Abstract：
:This paper introduces the discrete choice model-paradigm of Random Regret Minimisation (RRM) to the field of health economics. The RRM is a regret-based model that explores a driver of choice different from the traditional utility-based Random Utility Maximisation (RUM). The RRM approach is based on the idea that, when choosing, individuals aim to minimise their regret-regret being defined as what one experiences when a non-chosen alternative in a choice set performs better than a chosen one in relation to one or more attributes. Analysing data from a discrete choice experiment on diet, physical activity and risk of a fatal heart attack in the next ten years administered to a sample of the Northern Ireland population, we find that the combined use of RUM and RRM models offer additional information, providing useful behavioural insights for better informed policy appraisal.
journal_name
J Health Econjournal_title
Journal of health economicsauthors
Boeri M,Longo A,Grisolía JM,Hutchinson WG,Kee Fdoi
10.1016/j.jhealeco.2012.10.007subject
Has Abstractpub_date
2013-01-01 00:00:00pages
253-60issue
1eissn
0167-6296issn
1879-1646pii
S0167-6296(12)00168-3journal_volume
32pub_type
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