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Smokers, Smoking Deprivation, and Time DiscountingShoko YamaneOsaka University Hiroyasu Yonedaaffiliation not provided to SSRN Taiki TakahashiHokkaido University Yoshio Kamijoaffiliation not provided to SSRN Yasuhiro Komoriaffiliation not provided to SSRN Fumihiko Hirumaaffiliation not provided to SSRN Yoshiro TsutsuiOsaka University - Graduate School of Economics November 14, 2011 ISER Discussion Paper No. 822 Abstract: This paper investigates whether smokers exhibit greater time discounting than non-smokers, and how short-term nicotine deprivation affects time discounting. A unique feature of our experiment is that our subjects receive rewards not only of money, but also of actual tobacco. This is done in order to elicit smokers’ true preferences. Smokers are more impatient than non-smokers, consistent with previous studies. Additionally, nicotine deprivation makes smokers even more impatient. These results suggest that nicotine concentration has different effects on time preferences in the short and long runs.
Number of Pages in PDF File: 41 Keywords: time discounting, nicotine concentration, smoking deprivation, panel logit analysis, economic experiment JEL Classification: D03, D90, I10, Q57 working papers seriesDate posted: November 15, 2011Suggested CitationContact Information
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