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Consumer Behaviour. Does Rational Addiction Exist?

Consumer Behaviour. Does Rational Addiction Exist? PDF Author: Lukas Dauner
Publisher: GRIN Verlag
ISBN: 3668671206
Category : Business & Economics
Languages : en
Pages : 28

Book Description
Seminar paper from the year 2018 in the subject Economy - Health Economics, grade: 1,0, University of Hohenheim (Institut für Health Care & Public Management), language: English, abstract: It is proposed by Gary S. Becker and Kevin M. Murphy that addictive behavior could be usefully integrated in the rational choice framework. According to their theory, consumers are forward-looking in their decision making and calculate present and future consequences of consuming an addictive good. Becker and Murphy even claim that analyzing addictions as a rational choice offers new insights and a better understanding of addiction. Earlier economic models typically explain addictions with irrational or myopic behavior in which individuals ignore or highly discount the future when making their decisions. While the rational addiction model has become a standard tool in the economic analysis of addictive behavior, it has also been subject to much criticism. As shown in this paper, there is much evidence that model’s assumptions are unrealistic. It is argued however that the model’s predictions rather than its assumptions should be rejected based on the empirical evidence. By reviewing empirical studies which tested the Becker Murphy model, this paper seeks to examine to what extent the rational choice approach can be legitimately applied to addictive behavior. The model’s assumptions and implications will be explained. later, the main criticisms about the theory will be discussed. After that, the most relevant studies and their implications will be reviewed.

Consumer Behaviour. Does Rational Addiction Exist?

Consumer Behaviour. Does Rational Addiction Exist? PDF Author: Lukas Dauner
Publisher: GRIN Verlag
ISBN: 3668671206
Category : Business & Economics
Languages : en
Pages : 28

Book Description
Seminar paper from the year 2018 in the subject Economy - Health Economics, grade: 1,0, University of Hohenheim (Institut für Health Care & Public Management), language: English, abstract: It is proposed by Gary S. Becker and Kevin M. Murphy that addictive behavior could be usefully integrated in the rational choice framework. According to their theory, consumers are forward-looking in their decision making and calculate present and future consequences of consuming an addictive good. Becker and Murphy even claim that analyzing addictions as a rational choice offers new insights and a better understanding of addiction. Earlier economic models typically explain addictions with irrational or myopic behavior in which individuals ignore or highly discount the future when making their decisions. While the rational addiction model has become a standard tool in the economic analysis of addictive behavior, it has also been subject to much criticism. As shown in this paper, there is much evidence that model’s assumptions are unrealistic. It is argued however that the model’s predictions rather than its assumptions should be rejected based on the empirical evidence. By reviewing empirical studies which tested the Becker Murphy model, this paper seeks to examine to what extent the rational choice approach can be legitimately applied to addictive behavior. The model’s assumptions and implications will be explained. later, the main criticisms about the theory will be discussed. After that, the most relevant studies and their implications will be reviewed.

Thinking about Addiction

Thinking about Addiction PDF Author: Craig Hanson
Publisher: Rodopi
ISBN: 9042026634
Category : Medical
Languages : en
Pages : 155

Book Description
What is addiction? Why do some people become addicted while others do not? Is the addict rational? In this book, Craig Hanson attempts to answer these questions and more. Using insights from the beginnings of philosophy to contemporary behavioral economics, Hanson attempts to assess the variety of ways in which we can and cannot, understand addiction. Special consideration is given to a challenging (and controversial) proposal dubbed “hyperbolic discounting.” Hanson proposes some modifications to the hyperbolic discounting view that permit it to explain not only addiction, but also a variety of psychological maladies, such as self-deception.

Rational Addiction with Learning and Regret

Rational Addiction with Learning and Regret PDF Author: Athanasios Orphanides
Publisher:
ISBN:
Category : Compulsive behavior
Languages : en
Pages : 60

Book Description


Choice, Behavioural Economics and Addiction

Choice, Behavioural Economics and Addiction PDF Author: Nick Heather
Publisher: Elsevier
ISBN: 0080501109
Category : Psychology
Languages : en
Pages : 459

Book Description
Choice, Behavioural Economics and Addiction is about the theory, data, and applied implications of choice-based models of substance use and addiction. The distinction between substance use and addiction is important, because many individuals use substances but are not also addicted to them. The behavioural economic perspective has made contributions to the analysis of both of these phenomena and, while the major focus of the book is on theories of addiction, it is necessary also to consider the behavioural economic account of substance use in order to place the theories in their proper context and provide full coverage of the contribution of behavioural economics to this field of study. The book discusses the four major theories of addiction that have been developed in the area of economic science/behavioural economics. They are: • hyperbolic discounting • melioration • relative addiction • rational addiction The main objective of the book is to popularise these ideas among addiction researchers, academics and practitioners. The specific aims are to articulate the shared and distinctive elements of these four theories, to present and discuss the latest empirical work on substance abuse and addiction that is being conducted in this area, and to articulate a range of applied implications of this body of work for clinical, public health and public policy initiatives. The book is based on an invitation-only conference entitled, Choice, Behavioural Economics and Addiction: Theory, Evidence and Applications held at the University of Alabama at Birmingham, March 30 - April 1, 2001. The conference was attended by prominent scientists and scholars, representing a range of disciplines concerned with theories of addiction and their consequences for policy and practice. The papers in the book are based on the papers given at the above conference, together with commentaries by distinguished experts and, in many cases, replies to these comments by the presenters.

Working Paper Series

Working Paper Series PDF Author: Gary Stanley Becker
Publisher:
ISBN:
Category : Economics
Languages : en
Pages : 16

Book Description


Rational Addiction and Time Consistency

Rational Addiction and Time Consistency PDF Author: Luca Piccoli
Publisher:
ISBN:
Category :
Languages : en
Pages :

Book Description
This paper deals with one of the main empirical problems associated with the rational addiction theory, namely that its derived demand equation is not empirically distinguishable from models with forward looking behavior, but with time inconsistent preferences. The implication is that, even when forward looking behavior is supported by data, the standard rational addiction equation cannot distinguish between time consistency and inconsistency in preferences. We show that an encompassing general specification of the rational addiction model embeds the possibility of testing for time consistent versus time inconsistent naïve agents. We use a panel of Russian individuals to estimate a rational addiction equation for tobacco with time inconsistent preferences, where GMM estimators deal with errors in variables and unobserved heterogeneity. The results conform to the theoretical predictions and the proposed test for time consistency does not reject the hypothesis that Russian cigarettes consumers discount future utility exponentially. We further show that the proposed empirical specification of the Euler equation, whilst being indistinguishable from the general empirical specification of the rational addiction model, it allows to identify more structural parameters, such as an upper-bound for the parameter capturing present bias in time preferences.

Handbook of Developments in Consumer Behaviour

Handbook of Developments in Consumer Behaviour PDF Author: Victoria Wells
Publisher: Edward Elgar Publishing
ISBN: 1781005125
Category : Business & Economics
Languages : en
Pages : 625

Book Description
This Handbook examines the area of consumer behaviour from the perspective of current developments and developing areas for the discipline, to new opportunities that comprehend the nature of consumer choice and its relationship to marketing. Consumer research incorporates perspectives from a spectrum of long-established sciences: psychology, economics and sociology. This Handbook strives to include this multitude of sources of thought, adding geography, neuroscience, ethics and behavioural ecology to this list. Encompassing scholars with a passion for researching consumers, this Handbook highlights important developments in consumer behaviour research, including consumer culture, impulsivity and compulsiveness, ethics and behavioural ecology. It examines evolutionary and neuroscience perspectives as well as consumer choice. Undergraduate and postgraduate students and researchers in marketing with interests in consumer behaviour will find this enriching resource invaluable.

Understanding Canton

Understanding Canton PDF Author: Virgil K. Y. Ho
Publisher: Oxford University Press, USA
ISBN: 0199282714
Category : Business & Economics
Languages : en
Pages : 537

Book Description
By studying six different aspects of culture in Canton in the period between the two World Wars, this book helps broaden our limited knowledge of the social and cultural lives of the common people in this largest city of South China. The author examines how the Cantonese in this periodindulged in their imagined cultural superiority as "modern" citizens, ushering in a cult of the modern city. During this period, Cantonese opera was also emerging and evolving into a widely accepted form of commercialised mass entertainment. The process of social and cultural change and its impacton the development of this city and its people are revealed throughout the book. This book also aims to redress some major misconceptions of the socio-cultural realities as seen in official rhetoric or academic discourse on the matters of patriotism and anti-foreignism, gambling, prostitution, and opium consumption. Contemporary non-official and folk materials reveal that thecommon people were much more pro-Western than xenophobic in attitude, and the alleged social and political "calamities" of gambling, opium consumption and prostitution were more rhetorical than real. Understanding Canton provides us with, not only a fuller and more comprehensive picture of city lifeand popular mentalities, but also an important clue to understand how and why the social history of this city was distorted and constructed in ways that suited the political ideology and nation-building agenda of the ruling regimes.

Addiction Is a Choice

Addiction Is a Choice PDF Author: Jeffrey A. Schaler
Publisher: Open Court
ISBN: 0812697685
Category : Psychology
Languages : en
Pages : 202

Book Description
Politicians and the media tell us that people who take drugs, including alcohol or nicotine, cannot help themselves. They are supposedly victims of the disease of 'addiciton', and they need 'treatment'. The same goes for sex addicts, shopping addicts, food addicts, gambling addicts, or even addicts to abusive relationships. This theory, which grew out of the Temperance movement and was developed and disseminated by the religious cult known as Alcoholics Anonymous, has not been confirmed by any factual research. Numerous scientific studies show that 'addicts' are in control of their behavior. Contrary to the shrill, mindless propaganda of the 'war on drugs', very few of the people who use alcohol, marijuana, heroin, or cocaine will ever become 'addicted', and of those who do become heavy drug users, most will matrue out of it in time, without treatment. Research indicates that 'treatment' is completely ineffective, an absolute waste of time and money. Instead of looking at drub addiction as a disease, Dr. Schaler proposes that we view it as willful commitment or dedication, akin to joining a religion or pursuing a romantic involvement. While heavy consumption of drugs is often foolish and self-destructive, it is a matter of personal choice.

The New Economics of Human Behaviour

The New Economics of Human Behaviour PDF Author: Mariano Tommasi
Publisher: Cambridge University Press
ISBN: 9780521479493
Category : Business & Economics
Languages : en
Pages : 264

Book Description
This 1995 volume demonstrates the application of Beckerian theory upon a wide range of social and political activity.