| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 961463 | Journal of Health Economics | 2013 | 8 Pages |
Abstract
⺠This paper introduces the discrete choice paradigm of Random Regret Minimisation (RRM) to the field of health economics. ⺠The combined use of RRM and Random Utility Maximisation (RUM) models provide useful behavioural insights on choice. ⺠Whilst the RUM is suitable for calculating welfare estimates, the RRM highlights how anticipated regret affects choices. ⺠We find that the choices of overweight or obese respondents and smokers are more likely to conform to the RUM approach. ⺠We also find that the choices of people in good health and with higher education are more likely to reflect the RRM approach.
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Authors
Marco Boeri, Alberto Longo, José M. GrisolÃa, W. George Hutchinson, Frank Kee,