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Cover von: On Habits and Addictions
Norman Braun, Paolo Vanini

On Habits and Addictions

Rubrik: Articles
Jahrgang 159 (2003) / Heft 4, S. 603-626 (24)
Publiziert 09.07.2018
DOI 10.1628/0932456032584676
Veröffentlicht auf Englisch.
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Beschreibung
In an extension of the Becker-Murphy model of habitual behavior, it is assumed that a more excessive consumption history of a habitual good may trigger a stronger impatience. This endogenization of time preferences allows an integrative analysis of addictive behavior (history-dependent time preferences) and habitual behavior (limit case of constant time preferences), which reproduces and refines results from other economic models. It also yields various new predictions, which rationalize results from recent experiments on habitual consumption or correspond to previously neglected findings from addiction research.