VALUING THE FUTURE - TEMPORAL DISCOUNTING OF HEALTH AND MONEY

被引:282
作者
CHAPMAN, GB [1 ]
ELSTEIN, AS [1 ]
机构
[1] UNIV ILLINOIS,DEPT PSYCHOL,CHICAGO,IL 60612
关键词
DISCOUNTING; INTERTEMPORAL CHOICE; HEALTH DECISIONS;
D O I
10.1177/0272989X9501500408
中图分类号
R19 [保健组织与事业(卫生事业管理)];
学科分类号
摘要
Normative discounted utility theory specifies that the values of all future outcomes (for example, those related to health and money) should be discounted at a constant rate. Two experiments demonstrated that, contrary to this prescription, decision makers use different discount rates for health-related decisions and money-related decisions. Temporal discountings for health and money were similar in that both demonstrated two biases previously found in monetary decisions: discount rates were inversely related to magnitude of outcome and length of delay. The relatively large discount rates used by the subjects suggest why it is often difficult to implement preventive health measures that improve future health.
引用
收藏
页码:373 / 386
页数:14
相关论文
共 33 条
[21]  
LOEWENSTEIN G, 1991, AM ECON REV, V81, P347
[22]   ANOMALIES IN INTERTEMPORAL CHOICE - EVIDENCE AND AN INTERPRETATION [J].
LOEWENSTEIN, G ;
PRELEC, D .
QUARTERLY JOURNAL OF ECONOMICS, 1992, 107 (02) :573-597
[23]   FRAMES OF MIND IN INTERTEMPORAL CHOICE [J].
LOEWENSTEIN, GF .
MANAGEMENT SCIENCE, 1988, 34 (02) :200-214
[24]   PREFERENCES FOR SEQUENCES OF OUTCOMES [J].
LOEWENSTEIN, GF ;
PRELEC, D .
PSYCHOLOGICAL REVIEW, 1993, 100 (01) :91-108
[25]   ON WHAT BASIS SHOULD HEALTH BE DISCOUNTED [J].
OLSEN, JA .
JOURNAL OF HEALTH ECONOMICS, 1993, 12 (01) :39-53
[26]   DECISION-MAKING OVER TIME AND UNDER UNCERTAINTY - A COMMON APPROACH [J].
PRELEC, D ;
LOEWENSTEIN, G .
MANAGEMENT SCIENCE, 1991, 37 (07) :770-786
[27]   TIME PREFERENCE IN MEDICAL DECISION-MAKING AND COST-EFFECTIVENESS ANALYSIS [J].
REDELMEIER, DA ;
HELLER, DN .
MEDICAL DECISION MAKING, 1993, 13 (03) :212-217
[28]   TIME PREFERENCE IN MEDICAL ECONOMICS - SCIENCE OR RELIGION [J].
REDELMEIER, DA ;
HELLER, DN ;
WEINSTEIN, MC .
MEDICAL DECISION MAKING, 1994, 14 (03) :301-303
[29]  
ROSE DN, 1988, MED DECIS MAKING, V8, P334
[30]   DECISION-MAKING WITH LONG-TERM CONSEQUENCES - TEMPORAL DISCOUNTING FOR SINGLE AND MULTIPLE OUTCOMES IN THE FUTURE [J].
STEVENSON, MK .
JOURNAL OF EXPERIMENTAL PSYCHOLOGY-GENERAL, 1993, 122 (01) :3-22