Penelitian ini memberikan kontribusi berupa studi empiris risk preference dan time preference di Indonesia kaena merupakan alasan dasar pengambilan keputusan oleh individu. Penelitian ini mengestimasi pengaruh risk preference dan time preference orang tua terhadap keputusan imunisasi anak menggunakan data IFLS 2014. Imunisasi dasar bagi anak adalah keputusan yang dibuat oleh orang tua untuk anaknya. Pembentukan keputusan orang tua mempertimbangkan faktor uncertainty dari adverse events imunisasi dan preventable desease yang hendak dilawan melalui imunisasi. Riset di Amerika Serikat dan Jepang menunjukkan bahwa seseorang yang risk averse cenderung memilih untuk diimunisasi karena preventable desease dianggap beresiko terhadap kesehatan. Namun penelitian ini menemukan bahwa risk aversion ibu berpengaruh negatif terhadap keputusan imunisasi anak, sedangkan time preference orang tua tidak berpengaruh signifikan terhadap keputusan imunisasi anak. Hal ini mengindikasikan bahwa resiko yang dianggap lebih membahayakan kesehatan anak adalah adverse events imunisasi bukan preventable desease. Kondisi ini dapat dijelaskan dengan model probability weight function dimana resiko adverse events yang kecil di-overvalue akibat perceived risk atas adverse events yang tinggi.

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This study contributes to empirical studies of risk preference and time preference in Indonesia. These preferences are the basic reason for individual decision making. This study estimated the effect of parents risk preference and time preference on childrens immunization decisions using 2014 IFLS data. Parents make a decision to Immunize their children or not. In the decision-making process, parents consider the uncertainty about immunization such as the likelihood of preventable diseases and adverse events following immunization. Research in the United States and Japan show that someone who is a riskaverse tends to be immunized because of the risk of preventable disease.

However, this study finds that maternal risk aversion has a negative effect on children's immunization decisions, while parents time preference does not significantly influence childrens immunization decisions. This indicates parents consider that adverse events following immunization is more harmful to childrens health rather than the preventable disease. This condition can be explained by a probability weight function model where the risk of small adverse events is overvalued due to the high perceived risk to adverse events.