Yang, M;
Roope, LSJ;
Buchanan, J;
Attema, AE;
Clarke, P;
Walker, A;
Wordsworth, S;
(2022)
Eliciting risk preferences that predict risky health behaviour: A comparison of two approaches.
Health Economics
, 31
(5)
pp. 836-858.
10.1002/hec.4486.
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Abstract
Information on attitudes to risk could increase understanding of and explain risky health behaviors. We investigate two approaches to eliciting risk preferences in the health domain, a novel “indirect” lottery elicitation approach with health states as outcomes and a “direct” approach where respondents are asked directly about their willingness to take risks. We compare the ability of the two approaches to predict health-related risky behaviors in a general adult population. We also investigate a potential framing effect in the indirect lottery elicitation approach. We find that risk preferences elicited using the direct approach can better predict health-related risky behavior than those elicited using the indirect approach. Moreover, a seemingly innocuous change to the framing of the lottery question results in significantly different risk preference estimates, and conflicting conclusions about the ability of the indicators to predict risky health behaviors.
| Type: | Article |
|---|---|
| Title: | Eliciting risk preferences that predict risky health behaviour: A comparison of two approaches |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1002/hec.4486 |
| Publisher version: | https://doi.org/10.1002/hec.4486 |
| Language: | English |
| Additional information: | © 2022 The Authors. Health Economics published by John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/). |
| Keywords: | framing effects, lottery elicitation approach, risk preference, risky health behavior |
| UCL classification: | UCL UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Population Health Sciences > Inst of Clinical Trials and Methodology UCL > Provost and Vice Provost Offices > School of Life and Medical Sciences > Faculty of Population Health Sciences > Inst of Clinical Trials and Methodology > MRC Clinical Trials Unit at UCL |
| URI: | https://discovery.ucl.ac.uk/id/eprint/10142204 |
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