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Discounting health and money: New evidence using a more robust method
This study compares discounting for money and health in a field study. We applied the direct method, which measures discounting independent of utility, in a representative French sample, interviewed at home by professional interviewers. We found more discounting for money than for health. The median...
Autores principales: | , , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Springer US
2018
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6445504/ https://www.ncbi.nlm.nih.gov/pubmed/31007384 http://dx.doi.org/10.1007/s11166-018-9279-1 |
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author | Attema, Arthur E. Bleichrodt, Han L’Haridon, Olivier Peretti-Watel, Patrick Seror, Valérie |
author_facet | Attema, Arthur E. Bleichrodt, Han L’Haridon, Olivier Peretti-Watel, Patrick Seror, Valérie |
author_sort | Attema, Arthur E. |
collection | PubMed |
description | This study compares discounting for money and health in a field study. We applied the direct method, which measures discounting independent of utility, in a representative French sample, interviewed at home by professional interviewers. We found more discounting for money than for health. The median discount rates (6.5% for money and 2.2% for health) were close to market interest rates, suggesting that at the aggregate level the direct method solves the puzzle of unrealistically high discount rates typically observed in applied economics. Constant discounting fitted the data better than the hyperbolic discounting models that we considered. The substantial individual heterogeneity in discounting was correlated with age and occupation. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s11166-018-9279-1) contains supplementary material, which is available to authorized users. |
format | Online Article Text |
id | pubmed-6445504 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2018 |
publisher | Springer US |
record_format | MEDLINE/PubMed |
spelling | pubmed-64455042019-04-17 Discounting health and money: New evidence using a more robust method Attema, Arthur E. Bleichrodt, Han L’Haridon, Olivier Peretti-Watel, Patrick Seror, Valérie J Risk Uncertain Article This study compares discounting for money and health in a field study. We applied the direct method, which measures discounting independent of utility, in a representative French sample, interviewed at home by professional interviewers. We found more discounting for money than for health. The median discount rates (6.5% for money and 2.2% for health) were close to market interest rates, suggesting that at the aggregate level the direct method solves the puzzle of unrealistically high discount rates typically observed in applied economics. Constant discounting fitted the data better than the hyperbolic discounting models that we considered. The substantial individual heterogeneity in discounting was correlated with age and occupation. ELECTRONIC SUPPLEMENTARY MATERIAL: The online version of this article (10.1007/s11166-018-9279-1) contains supplementary material, which is available to authorized users. Springer US 2018-05-09 2018 /pmc/articles/PMC6445504/ /pubmed/31007384 http://dx.doi.org/10.1007/s11166-018-9279-1 Text en © The Author(s) 2018 Open Access This article is distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution, and reproduction in any medium, provided you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license, and indicate if changes were made. |
spellingShingle | Article Attema, Arthur E. Bleichrodt, Han L’Haridon, Olivier Peretti-Watel, Patrick Seror, Valérie Discounting health and money: New evidence using a more robust method |
title | Discounting health and money: New evidence using a more robust method |
title_full | Discounting health and money: New evidence using a more robust method |
title_fullStr | Discounting health and money: New evidence using a more robust method |
title_full_unstemmed | Discounting health and money: New evidence using a more robust method |
title_short | Discounting health and money: New evidence using a more robust method |
title_sort | discounting health and money: new evidence using a more robust method |
topic | Article |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6445504/ https://www.ncbi.nlm.nih.gov/pubmed/31007384 http://dx.doi.org/10.1007/s11166-018-9279-1 |
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