Table 6.

Discounting and the Value of the Future National Survey of Midlife Development in the United States, Whites, 1995–1996

			Coefficient on Years of Education					Reduction in Education Coefficient
					Addition to Income and Family Background				Addition to Income and Family Background
Dependent Variable	Mean	N	Basic Demographics and family background	Economic controls	Current and Future Life Satisfaction and Future Planning	Personality	Social integration	Economic controls	Current and Future Life Satisfaction and Future Planning	Personality	Social integration
Smoking
Current smoker	25%	2545	−0.035**	−0.032**	−0.032**	−0.032**	−0.029**	9%	1%	−1%	9%
			(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
Former smoker	29%	2546	−0.009*	−0.008	−0.008	−0.006	−0.008	12%	−2%	18%	−2%
			(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
Average # of cigs per day	26.1	1372	−1.013**	−0.955**	−0.949**	−0.955**	−0.945**	6%	1%	0%	1%
			(0.240)	(0.245)	(0.244)	(0.254)	(0.267)
Ever tried to quit smoking (if smoker)	83%	585	−0.006	−0.004	−0.005	−0.006	−0.004	31%	−11%	−26%	3%
			(0.011)	(0.012)	(0.012)	(0.012)	(0.012)
Diet/Exercise
BMI	26.5	2440	−0.148**	−0.101*	−0.097	−0.100	−0.080	32%	3%	1%	14%
			(0.059)	(0.059)	(0.059)	(0.059)	(0.062)
Underweight	3%	2440	0.00022	0.0027*	0.0028*	0.003**	0.003	−13%	−4%	4%	0%
			(0.0015)	(0.0016)	(0.0016)	(0.0015)	(0.0017)
Overweight	56%	2440	−0.009	−0.004	−0.003	−0.004	−0.002	56%	5%	−6%	24%
			(0.006)	(0.006)	(0.006)	(0.006)	(0.006)
Obese	21%	2440	−0.016**	−0.013**	−0.012**	−0.013**	−0.012**	18%	3%	2%	3%
			(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
# of times per month engages in vigorous exercise	5.9	2546	0.164**	0.114**	0.103*	0.113**	0.072**	30%	7%	1%	26%
			(0.055)	(0.057)	(0.056)	(0.057)	(0.060)
Lose 10 lbs due to lifestyle	22%	2466	−0.012**	−0.011**	−0.012**	−0.012**	−0.012**	10%	−4%	−5%	−3%
			(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
Illegal Drugs
Used cocaine, past 12 months	1%	2538	−0.001	−0.002*	−0.002*	−0.003*	−0.002	−77%	−8%	−23%	0%
			(0.001)	(0.001)	(0.001)	(0.001)	(0.001)
Used marijuana, past 12 months	6%	2536	0.000	−0.002	−0.003	−0.003	−0.003	−2100%	200%	−500%	−300%
			(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Other illegal drug used, past 12 months	10%	2524	−0.004	−0.003	−0.004	−0.001	−0.001	26%	8%	37%	47%
			(0.003)	(0.003)	(0.003)	(0.003)	(0.003)
Preventive Care
Take vitamin at least few times per week	48%	2546	0.024**	0.022**	0.022**	0.022**	0.020**	7%	1%	−1%	10%
			(0.006)	(0.006)	(0.006)	(0.006)	(0.006)
Had blood pressure test, past 12 months	67%	2516	0.006	0.003	0.004	0.002	0.003	46%	−9%	14%	−9%
			(0.005)	(0.006)	(0.006)	(0.006)	(0.006)
Doctor visit, past 12 months	69%	2496	0.011**	0.009*	0.009*	0.009	0.010	15%	3%	−2%	−3%
			(0.005)	(0.005)	(0.005)	(0.005)	(0.005)
General Behavior
Work hard to stay healthy (1–7 scale, 1 is better)	2.4	2546	0.014	0.011	0.015	0.009	0.032**	20%	−27%	16%	−149%
			(0.015)	(0.015)	(0.015)	(0.015)	(0.015)
Effort put on health (0–10 scale, 10 is better)	7.1	2546	−0.008	−0.007	−0.014	−0.003	−0.034	17%	−103%	41%	−355%
			(0.023)	(0.024)	(0.024)	(0.024)	(0.025)
Average
Unweighted standardized index		2279	0.018**	0.015**	0.014**	0.015**	0.012**	14%	8%	1%	22%
			(0.004)	(0.004)	(0.004)	(0.004)	(0.004)
Unweighted percentages (outcomes w/significant gradients at baseline)								18%	1%	1%	7%
Mortality weighted								11%	1%	1%	7%

Note: Basic regressions include controls for age and gender. Economic measures include family size, family income, family income missing, major activity, marital status, and region. Family background measures include self reported health status at age 16, whether born in the US, whether speak English at home, dad born in the US, dad's employment status at age 16, dad's education, dummy for dad alive at time of survey and dad's health status if alive, head of the household when was 16, mom's employment status at age 16, mom's education, mom alive at time of survey and mom health status if alive, whether family was on welfare while growing up, whether family was better off than other while growing up. Personality measures include a depression scale, a generalized anxiety scale, a scale on sense of control, a positive affect scale and a negative affect scale and dummy variables whenever each scale is missing. Social integration measures include a scale of social integration, the scale of social contribution, a scale on positive relations with spouse, a scale on negative relations with spouse, a scale of positive relations with friends, a scale on negative relations with friends, and dummy variables whenever each scale is missing. Effort put into health: individuals were asked to rate from 0 to 10 "How much thought and effort do you put into your health these days?", were 10 is the highest. Work hard to stay healthy: individuals were asked how strongly they agreed with the statement "I work hard at trying to stay healthy" & 1 is coded as strongly agree. MIDUS weights are used in all regressions and in calculating means. Unweighted regressions use the methodology of Kling et al. (2007). Mortality weights assume no difference in drinking.

^**(*) indicates statistical significance at the 5% (10%) level.