Addiction and Discounting

Anne Line Bretteville-Jensen

Norway; Department of Economics, University of Bergen from Department of Economics, University of Bergen

Abstract: In 1988, Becker and Murphy [Becker, G.S., Murphy, K.M., 1988 A theory of rational addiction. Journal of Political Economy, 96, 675-700.] launched a theory in which they proposed that the perspective of rational decision-making could be applied also to cases of addictive bahaviour. This paper discusses the theory's assumptions of intepersonal variation and stability in time preferences on the basis of estimates derived from three groups of people with different consumption levels of illegal intoxicants.

Keywords: GENERATIONS; MICROECONOMICS (search for similar items in EconPapers)
JEL-codes: D91 (search for similar items in EconPapers)
Pages: 15 pages
Date: 1999
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Citations: View citations in EconPapers (29)

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