Table 6.

Probit model regression results: financial literacy as the main explanatory variable.

Variable	Dependent Variable: Smoking Behavior
	Model 1.1	Model 1.2	Model 1.3	Model 1.4
Financial literacy	−0.226 **	−0.240 ***	−0.233 ***	−0.230 **
	(0.0887)	(0.0894)	(0.0897)	(0.0899)
Male	0.189 ***	0.124 **	0.124 **	0.122 **
	(0.0554)	(0.0568)	(0.0569)	(0.0570)
Age	0.0613 ***	0.0623 ***	0.0624 ***	0.0601 ***
	(0.0109)	(0.0113)	(0.0114)	(0.0114)
Age squared	−0.000687 ***	−0.000685 ***	−0.000688 ***	−0.000664 ***
	(0.000109)	(0.000113)	(0.000114)	(0.000114)
University degree	−0.500 ***	−0.504 ***	−0.501 ***	−0.500 ***
	(0.0635)	(0.0641)	(0.0643)	(0.0645)
Marriage	−0.190 **	−0.183 **	−0.181 **	−0.172 **
	(0.0790)	(0.0797)	(0.0798)	(0.0801)
Divorce	0.0714	0.0539	0.0555	0.0326
	(0.117)	(0.118)	(0.118)	(0.119)
Household members	−0.0523 **	−0.0419 *	−0.0418 *	−0.0426 *
	(0.0241)	(0.0244)	(0.0245)	(0.0247)
Children	0.111	0.0956	0.0933	0.108
	(0.0831)	(0.0837)	(0.0839)	(0.0843)
Unemployed	0.484 ***	0.497 ***	0.497 ***	0.471 ***
	(0.152)	(0.151)	(0.152)	(0.151)
Log of household income	−0.0462	−0.0694 **	−0.0653 *	−0.0602 *
	(0.0338)	(0.0343)	(0.0343)	(0.0345)
Log of household assets	−0.0779 ***	−0.0842 ***	−0.0841 ***	−0.0806 ***
	(0.0223)	(0.0227)	(0.0227)	(0.0228)
Regular exercise		−0.128 **	−0.128 **	−0.110 **
		(0.0556)	(0.0557)	(0.0560)
Current drinker		0.437 ***	0.440 ***	0.445 ***
		(0.0560)	(0.0560)	(0.0560)
Frequent gambler		0.382 ***	0.378 ***	0.371 ***
		(0.0905)	(0.0905)	(0.0906)
Myopic view of the future			0.147 *	0.132
			(0.0815)	(0.0817)
Level of risk preference			−0.115	−0.113
			(0.0911)	(0.0911)
Current level of happiness				−0.294 **
				(0.120)
Anxiety about health				0.00389
				(0.0591)
Constant	−0.564	−0.432	−0.425	−0.288
	(0.393)	(0.398)	(0.402)	(0.408)
Observations	3831	3831	3831	3831
Log likelihood	−1404	−1361	−1358	−1355
Chi2 statistics	222.1	289.4	293.2	301.4
p-value	0	0	0	0

Note: Robust standard errors are in parentheses; *** p < 0.01, ** p < 0.05, * p < 0.1.