Individual Time Preferences and Obesity: A Behavioral Economics Analysis Using a Quasi-Hyperbolic Discounting Approach Publisher



Soofi M¹ ; Sari AA² ; Rezaei S³ ; Hajizadeh M⁴ ; Najafi F³ Show Affiliations
Source: International Journal of Social Economics Published:2020

Abstract

Purpose: Behavioral economic analysis of health-related behavior is a potentially useful approach to study and control non-communicable diseases. The purpose of this paper is to explore the time preferences of individuals and its impact on obesity in an adult population of Iran. Design/methodology/approach: A structured questionnaire was completed by 792 individuals who were randomly selected from the participants of an ongoing national Prospective Epidemiological Research Studies in IrAN cohort study in West of Iran. The quasi-hyperbolic discounting model was used to estimate the parameters of time preferences and a probit regression model was used to explore the correlation between obesity and time preferences. Findings: There was a statistically significant correlation between obesity and both the long-run patience and present-biased preferences of participants. Individuals with a low level of long-run patience were 10.2 percentage points more likely to be obese compared to individuals with a high level of long-run patience. The probability of being obese increased by 11 percentage points in present-biased individuals compared to future biased individuals. Originality/value: The long-run patience and time inconsistent preferences were significant determinants of obesity. Considering the time-inconsistent preferences in the development of policies to change obesity-related behavior among adults might increase the success rate of the interventions. © 2019, Emerald Publishing Limited.