Lisa R. Anderson (Department of Economics, College of William and Mary)
Jennifer M. Mellor (Department of Economics, College of William and Mary)
http://d.repec.org/n?u=RePEc:cwm:wpaper:59&r=cbe
We conduct a large-scale economics experiment paired with a survey to examine the association between individual risk preferences and health-related behaviors among adults aged 18 to 87 years. Risk preferences are measured by the Holt and Laury (2002) lottery choice experiment. Controlling for race, sex, and age, we find that risk preference is significantly associated with cigarette smoking, being overweight or obese, seat belt non-use, and driving over the speed limit. In additional specifications, we find that risk preference is significantly associated with heavy episodic drinking, and is a significant predictor of the number of risky behaviors.
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