Prudence and prevention – empirical evidence
•We provide the first representative evidence on the link between prudence and preventive behavior.•Prudent individuals above 60 or with chronic illness are less likely to receive influenza vaccination.•No significant association is found for younger and healthy individuals with low baseline vaccina...
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| Veröffentlicht in: | Economics letters Jg. 257; S. 112671 |
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| Sprache: | Englisch |
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01.12.2025
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| ISSN: | 0165-1765 |
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| Abstract | •We provide the first representative evidence on the link between prudence and preventive behavior.•Prudent individuals above 60 or with chronic illness are less likely to receive influenza vaccination.•No significant association is found for younger and healthy individuals with low baseline vaccination rates.•Results highlight the role of higher-order risk preferences in shaping real-world self-protection decisions.
Theory shows that optimal prevention decisions in the sense of self-protection (i. e., primary prevention) depend not only on the level of (second-order) risk aversion but also on prudence (third-order risk aversion). We use a unique dataset that combines data on higher-order risk preferences and observed real-world preventive behavior and provide the first representative evidence of a negative relationship between prudence and self-protection: We find that prudent individuals in the high-risk group (above the age of 60 or chronically ill) indeed invest less in self-protection as measured by influenza vaccination. This does not hold for younger and healthy individuals for whom influenza vaccination rates are low in general. |
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| AbstractList | •We provide the first representative evidence on the link between prudence and preventive behavior.•Prudent individuals above 60 or with chronic illness are less likely to receive influenza vaccination.•No significant association is found for younger and healthy individuals with low baseline vaccination rates.•Results highlight the role of higher-order risk preferences in shaping real-world self-protection decisions.
Theory shows that optimal prevention decisions in the sense of self-protection (i. e., primary prevention) depend not only on the level of (second-order) risk aversion but also on prudence (third-order risk aversion). We use a unique dataset that combines data on higher-order risk preferences and observed real-world preventive behavior and provide the first representative evidence of a negative relationship between prudence and self-protection: We find that prudent individuals in the high-risk group (above the age of 60 or chronically ill) indeed invest less in self-protection as measured by influenza vaccination. This does not hold for younger and healthy individuals for whom influenza vaccination rates are low in general. |
| ArticleNumber | 112671 |
| Author | Schmitz, Hendrik Mayrhofer, Thomas |
| Author_xml | – sequence: 1 givenname: Thomas orcidid: 0000-0001-6287-5185 surname: Mayrhofer fullname: Mayrhofer, Thomas email: thomas.mayrhofer@medma.uni-heidelberg.de organization: Division of Health Economics, Center for Preventive Medicine and Digital Health, Medical Faculty Mannheim, Heidelberg University, Mannheim, Germany – sequence: 2 givenname: Hendrik orcidid: 0000-0002-0253-102X surname: Schmitz fullname: Schmitz, Hendrik email: hendrik.schmitz@uni-paderborn.de organization: RWI Leibniz Institute for Empirical Research, Department of Economics, Paderborn University, Germany |
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| Cites_doi | 10.1111/j.1542-4774.2011.01015.x 10.1016/j.jebo.2017.01.017 10.1016/0165-1765(94)00636-G 10.1016/j.mathsocsci.2011.09.002 10.2307/2938334 10.1093/restud/rdt032 10.1002/hec.1672 10.1007/s00199-004-0548-7 10.2139/ssrn.2017475 10.1080/13504851.2016.1158909 10.2307/2171866 10.2307/2296725 10.1177/0272989X13493969 10.1002/hec.4238 10.1016/j.vaccine.2015.03.065 10.1016/j.euroecorev.2018.01.007 10.1007/s00199-020-01282-0 10.2307/1879518 10.1057/grir.2012.1 10.1086/259916 10.1111/jori.12060 10.1016/j.jhealeco.2018.12.004 10.1007/s10683-018-9588-x 10.1016/j.jhealeco.2016.09.006 10.1016/j.mathsocsci.2009.07.001 10.1002/hec.1138 |
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| Keywords | Prudence Prevention D12 Vaccination Risk preferences I12 D81 |
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