Living rationally under the volcano?: An empirical analysis of heavy drinking and smoking
This study investigates whether models of forward-looking behavior explain the observed patterns of heavy drinking and smoking of men in late middle age in the Health and Retirement Study better than myopic models. We develop and estimate a sequence of nested models which differ by their degree of f...
Gespeichert in:
| Hauptverfasser: | , , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
NBER
2001
|
| Schriftenreihe: | Working paper series / National Bureau of Economic Research
8602 |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This study investigates whether models of forward-looking behavior explain the observed patterns of heavy drinking and smoking of men in late middle age in the Health and Retirement Study better than myopic models. We develop and estimate a sequence of nested models which differ by their degree of forward-looking behavior. We also study models which allow for heterogeneity in discounting, and thus test whether certain types of individuals are more likely to show forward-looking behavior than other types. Our empirical findings suggest that forward-looking models with an annual discount factor of approximately 0.78 fit the data the best. These models also dominate other behavioral models based on out-of-sample predictions using data of men aged 70 and over. Myopic models predict rates of smoking and drinking for old individuals which are significantly larger than those found in the data on elderly men. |
| Beschreibung: | 36, [3] S. graph. Darst. 22 cm |
Internformat
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| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:24Z |
| indexdate | 2024-07-09T21:25:05Z |
| institution | BVB |
| language | English |
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| physical | 36, [3] S. graph. Darst. 22 cm |
| publishDate | 2001 |
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| spelling | Arcidiacono, Peter Verfasser (DE-588)171883616 aut Living rationally under the volcano? An empirical analysis of heavy drinking and smoking Peter Arcidiacono ; Holger Sieg ; Frank Sloan Cambridge, Mass. NBER 2001 36, [3] S. graph. Darst. 22 cm txt rdacontent n rdamedia nc rdacarrier Working paper series / National Bureau of Economic Research 8602 This study investigates whether models of forward-looking behavior explain the observed patterns of heavy drinking and smoking of men in late middle age in the Health and Retirement Study better than myopic models. We develop and estimate a sequence of nested models which differ by their degree of forward-looking behavior. We also study models which allow for heterogeneity in discounting, and thus test whether certain types of individuals are more likely to show forward-looking behavior than other types. Our empirical findings suggest that forward-looking models with an annual discount factor of approximately 0.78 fit the data the best. These models also dominate other behavioral models based on out-of-sample predictions using data of men aged 70 and over. Myopic models predict rates of smoking and drinking for old individuals which are significantly larger than those found in the data on elderly men. Sieg, Holger 1966- Verfasser (DE-588)128732849 aut Sloan, Frank A. 1942- Verfasser (DE-588)120487470 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.> NBER working paper series 8602 (DE-604)BV002801238 8602 http://papers.nber.org/papers/w8602.pdf kostenfrei Volltext |
| spellingShingle | Arcidiacono, Peter Sieg, Holger 1966- Sloan, Frank A. 1942- Living rationally under the volcano? An empirical analysis of heavy drinking and smoking |
| title | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking |
| title_auth | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking |
| title_exact_search | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking |
| title_exact_search_txtP | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking |
| title_full | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking Peter Arcidiacono ; Holger Sieg ; Frank Sloan |
| title_fullStr | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking Peter Arcidiacono ; Holger Sieg ; Frank Sloan |
| title_full_unstemmed | Living rationally under the volcano? An empirical analysis of heavy drinking and smoking Peter Arcidiacono ; Holger Sieg ; Frank Sloan |
| title_short | Living rationally under the volcano? |
| title_sort | living rationally under the volcano an empirical analysis of heavy drinking and smoking |
| title_sub | An empirical analysis of heavy drinking and smoking |
| url | http://papers.nber.org/papers/w8602.pdf |
| volume_link | (DE-604)BV002801238 |
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