Table 3 Impatience, present bias, and risk parameters
From: A quasi-hyperbolic discounting approach to smoking behavior
| Â | Â | Â | Â | Random parameters | ||
|---|---|---|---|---|---|---|
|  | Log likelihood | Scale parameter |  | δ (constant time preference) | Exp(β) (present bias) | 1-γ (relative risk aversion) |
Non-smoker | -587.7 | 0.3299 (0.1197) | Mean | -0.0556 (0.0098)*** | 0.4578 (0.1909)*** | -0.2283 (0.2065) |
(N = 241) | S.D. | 0.0346 (0.0101)*** | 0.0617 (0.0790) | 0.4064 (0.2101)* | ||
Never-smoker | -440.1 | 0.2318 (0.1652) | Mean | -0.0542 (0.0131)*** | 0.4207 (0.1956)** | -0.2172 (0.2438) |
(N = 182) | S.D. | 0.0261 (0.0120)** | 0.0875 (0.0976) | 0.0207 (0.7300) | ||
Ex-smoker | -140.1 | 0.2718 (0.2341) | Mean | -0.0700 (0.0253)*** | 0.5365 (0.5339) | -0.3697 (0.4689) |
(N = 59) | S.D. | 0.2077 (0.1219)* | 0.0562 (0.0316)* | 0.8366 (0.4635)* | ||
Smoker | -57105 | 0.3575 (0.1073)*** | Mean | -0.0683 (0.0133)*** | 0.3619 (0.1137)*** | -0.3658 (0.2186) |
(N = 253) | S.D. | 0.0421 (0.0127)*** | 0.0276 (0.1055) | 0.6265 (0.2108)*** | ||
L-smoker | -226.2 | 0.3900 (0.2694) | Mean | -0.0587 (0.0211)*** | 0.2685 (0.1076)** | -0.4843 (0.3617) |
(N = 97) | S.D. | 0.0341 (0.0192)** | 0.0072 (0.1253) | 0.6083 (0.3096)** | ||
M-smoker | -255.6 | 0.3575 (0.1461)** | Mean | -0.0802 (0.0226)*** | 0.5677 (0.5316) | -0.2035 (0.3468) |
(N = 111) | S.D. | 0.0465 (0.0188)** | 0.1129 (0.3377) | 0.7142 (0.3870)* | ||
H-smoker | -93.8 | 0.3575 (0.1908)* | Mean | -0.0855 (0.0365)** | 0.2876 (0.1597)* | -0.5267 (0.5171) |
(N = 45) | S.D. | 0.0639 (0.0334)* | 0.0305 (0.1605) | 0.3395 (1.1399) | ||