Predicting health behaviors with an experimental measure of risk preference

J Health Econ. 2008 Sep;27(5):1260-74. doi: 10.1016/j.jhealeco.2008.05.011. Epub 2008 Jun 7.

Abstract

We conduct a large-scale economics experiment paired with a survey to examine the association between individual risk preference and health-related behaviors among adults aged 18-87 years. Risk preference is measured by the lottery choice experiment designed by Holt and Laury [Holt, C.A., Laury, S.K., 2002. Risk aversion and incentive effects. The American Economic Review 92(5), 1644-1655]. Controlling for subject demographic and economic characteristics, we find that risk aversion is negatively and significantly associated with cigarette smoking, heavy drinking, being overweight or obese, and seat belt non-use. In additional specifications, we find that risk aversion is negatively and significantly associated with the likelihood a subject engaged in any of five risky behaviors and the number of risky behaviors reported.

Publication types

  • Research Support, Non-U.S. Gov't

MeSH terms

  • Adolescent
  • Adult
  • Aged
  • Aged, 80 and over
  • Alcohol Drinking / psychology
  • Attitude to Health*
  • Consumer Behavior / statistics & numerical data*
  • Empirical Research
  • Gambling / psychology*
  • Health Behavior*
  • Humans
  • Middle Aged
  • Obesity / psychology
  • Overweight / psychology
  • Psychometrics
  • Risk Assessment
  • Risk-Taking*
  • Seat Belts / statistics & numerical data
  • Smoking / psychology
  • Socioeconomic Factors