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On Habits and Addictions

Author

Listed:
  • Norman Brown
  • Paolo Vanini

Abstract

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 triggera 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.

Suggested Citation

  • Norman Brown & Paolo Vanini, 2003. "On Habits and Addictions," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 159(4), pages 603-626, December.
    • Handle: RePEc:mhr:jinste:urn:sici:0932-4569(200312)159:4_603:ohaa_2.0.tx_2-s
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    Citations

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    Cited by:

    1. Maria Isabel Clímaco & Luís Moura Ramos, 2004. "Questioning Rationality: The case for risk consumption," Notas Económicas, Faculty of Economics, University of Coimbra, issue 20, pages 177-191, December.
    2. Jonathan Caulkins & Gustav Feichtinger & Richard Hartl & Peter Kort & Andreas Novak & Andrea Seidl, 2013. "Multiple equilibria and indifference-threshold points in a rational addiction model," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 21(3), pages 507-522, September.

    More about this item

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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