Rational Choice with Passion: Virtue in a Model of Rational Addiction

Andrew Yuengert

Review of Social Economy, 2001, vol. 59, issue 1, 1-21

Abstract: By incorporating a divided self into the rational addiction framework, this paper provides a rationale for and an explicit analysis of two types of budget-shrinking behaviors - actions taken to limit access to lifetime wealth in a given period, and actions taken to change the effective price of the addictive good. Moreover, internal conflict models provide a normative rationale, absent from rational addiction models, for policies that limit access to addictive goods.

Keywords: Rational Addiction; Internal Conflict; Passion Goods; Reason; Aristotle; Virtue (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1080/00346760010017492

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