Individual time preference has been recognized as key driver in explaining consumers' probability to have a healthy weight or to incur excess weight problems. The term time preference refers to the rate at which a person is disposed to trade a current satisfaction for a future benefit. This characteristic may affect the extent at which individuals invest in health and may influence diet choices. The purpose of this paper is to analyse which could be the role of time preference (measured in terms of diet-related behaviours) in explaining consumers' healthy or unhealthy body weight. The analysis also considers other drivers predicted to influence BMI, specifically information searching, health-related activities and socio-demographic conditions. The survey was based on face-to-face interviews on a sample of 240 consumers living in Milan. In order to test the hypothesis, we performed a set of seven ORM regressions, all having consumers' BMI as the dependent variable. Each ORM contains a different block of explanatory variables, while time preference is always included among the regressors. The results suggest that the healthy weight condition is associated with a high orientation to the future, with a high interest in nutrition claims, a low attention to health-related claims, and a high level of education. On the opposite, the probability to be overweight or obese increases when consumers are less future-concerned and is associated with a low searching for nutrition claims and to a high interest in health claims.
Keywords: Consumer; Economics of obesity; Ordinal Regression Model; Time preference.
Copyright © 2014 Elsevier Ltd. All rights reserved.