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Time Preference and Health: An Exploratory Study
TLDR
In this paper, the authors report the results of an exploratory survey designed to measure differences in time preference across individuals and to test for relationships between time preference and schooling, health behaviors, and health status.Abstract:
This paper reports the results of an exploratory survey designed to measure differences in time preference across individuals and to test for relationships between time preference and schooling, health behaviors, and health status. Approximately 500 adults age 25-64 were surveyed by telephone. Time preference was measured by a series of six questions asking the respondent to choose between a sum of money now and a larger sum at a specific point in the future. Approximately two-thirds gave consistent replies to the six questions. The implicit interest rate revealed in their replies is weakly correlated with years of schooling (negative), cigarette smoking (positive), and health status(negative). Family background, especially religion, appears to be an important determinant of time preference.read more
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References
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ReportDOI
The Correlation between Health and Schooling
TL;DR: This article developed a methodological framework that can be used to introduce and discuss alternative explanations of the correlation between health and schooling and test these explanations empirically in order to select the most relevant ones and obtain quantitative estimates of different effects.
Posted Content
The Production of Health, an Exploratory Study
TL;DR: The relationship of mortality of whites to both medical care and environmental variables is examined in a regression analysis across states in 1960 as discussed by the authors, where medical care is alternatively measured by expenditures and by the output of a Cobb-Douglas production function combining the services of physicians, paramedical personnel, capital and drugs.