OBESITY AND TIME PREFERENCE: THE HEALTH CONSEQUENCES OF DISCOUNTING THE FUTURE

Abstract

Much focus has been placed on the obesity epidemic due to its high prevalence and the costs it imposes on society. Using 2004 data from the Roper Center, complemented with 2003 data from the Behavioural Risk Factor Surveillance System, this study analyses the possible effect that time preference has on health in the United States, as measured by the body mass index. After controlling for a variety of covariates and correcting for potential selectivity, some evidence of a positive association between time preference for the present and the body mass index can be found, particularly for males. Research in this area has policy implications in terms of creating incentives for those who lack self-control through the use of pre-commitment devices. Measures addressing self-control issues may be more effective in reducing the rising obesity rates across the world.