Time preference and nutrition label use: Evidence from China |
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| Institution: | 1. School of Economics, Zhejiang University of Technology, 288 Liuhe Road, Hangzhou 310023, China;2. China Academy for Rural Development (CARD), School of Public Affairs, Zhejiang University, 866 Yuhangtang Road, Hangzhou 310058, China;1. University of Texas at Austin, Research Fellow, IZA, and Associate, NBER, United States;2. Sue Killam Professor Emeritus, University of Texas at Austin, United States;3. Royal Holloway University of London, United Kingdom;4. Maastricht University, Research Fellow, IZA and CEPR, the Netherlands;1. Departemen Ilmu Ekonomi, Faculty of Economics and Business, Universitas Indonesia;2. Economic Research Institute for ASEAN and East Asia (ERIA) Central Senayan II. Gelora Bung Karno, 10270, Central Jakarta;3. Lembaga Penyelidikan Ekonomi dan Masyarakat, LPEM FEB UI;1. Faculty of Law and Economics, Johannes Gutenberg-University Mainz, Germany;2. Department of Economics, Vrije Universiteit Amsterdam, The Netherlands;3. Centre for Health Economics, Monash University, Tinbergen Institute, IZA, Germany |
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| Abstract: | The assumption that label use behavior is, to some extent, intertemporal decision behavior because the benefit of label use cannot be realized instantly, is insufficiently considered. This paper is the first to examine directly if food nutrition label use is associated with behavioral inclinations in time preference. Using a theoretical analysis, this paper illustrates that individuals with lower present bias and higher long-run patience tend to use nutrition labels more frequently. In an empirical investigation, an analysis of a nationwide survey of 1220 Chinese adults confirmed that time preference relates to label use behavior, not only via impatience but also via hyperbolic discounting. Results of this study can help to better understand label-use behavior. They also provide important policy implications for the design of proper strategies for improving food nutrition label use, as well as help consumers in China and other developing countries choose healthier diets. |
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| Keywords: | Time preference Present bias Impatience Nutrition label use China |
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