Download or read book Consumer Behaviour Does Rational Addiction Exist written by Lukas Dauner and published by GRIN Verlag. This book was released on 2018-03-27 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Getting Hooked written by Jon Elster and published by Cambridge University Press. This book was released on 1999-03-13 with total page 302 pages. Available in PDF, EPUB and Kindle. Book excerpt: The essays in this volume offer a thorough discussion of the relationship between addiction and rationality. This book-length treatment of the subject includes contributions from philosophers, psychiatrists, neurobiologists, sociologists and economists. Contrary to the widespread view that addicts are subject to overpowering and compulsive urges, the authors in this volume demonstrate that addicts are capable of making choices and responding to incentives. At the same time they disagree with Gary Becker's argument that addiction is the result of rational choice. The volume offers an exposition of the neurophysiology of addiction, a critical examination of the Becker theory of rational addiction, an argument for a 'visceral theory of addiction', a discussion of compulsive gambling as a form of addiction, several discussions of George Ainslie's theory of hyperbolic discounting, analyses of social causes and policy implications, and an investigation of the problem of relapse.
Download or read book Choice Behavioral Economics and Addiction written by Rudolph Eugene Vuchinich and published by Elsevier. This book was released on 2003-11-13 with total page 468 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Is Addiction rational written by Jonathan Gruber and published by . This book was released on 2000 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: A standard model of addictive process is Becker and Murphy's rational addiction' model, which has the key empirical prediction that the current consumption of addictive goods should respond to future prices, and the key normative prediction that the optimal government regulation of addictive goods should depend only on their interpersonal externalities. While a variety of previous studies have supported this empirical contention, we demonstrate that these results are very fragile. We propose a new empirical test for the case of cigarettes, using state excise tax increases that have been legislatively enacted but are not yet effective, and monthly data on consumption. We find strong evidence that consumption drops when there are announced future tax increases, providing more robust support for the key empirical prediction of the Becker and Murphy model. But we also propose a new formulation of this model that makes only one change, albeit a major one: the incorporation of the inconsistent preferences which are likely to provide a much better platform for understanding the smoking decision. We find that with these preferences the model continues to yield the predictions for forward-looking behavior that have been tested by others and by ourselves. But it has strikingly different normative implications, as with these preferences optimal government policy should depend as well on the internalities' imposed by smokers on themselves. We estimate that the optimal tax per pack of cigarettes should be at least one dollar higher under our formulation than in the rational addiction case.
Download or read book Behavioural Economics and Finance written by Michelle Baddeley and published by Routledge. This book was released on 2018-10-17 with total page 498 pages. Available in PDF, EPUB and Kindle. Book excerpt: Behavioural economics and behavioural finance are rapidly expanding fields that are continually growing in prominence. While orthodox economic models are built upon restrictive and simplifying assumptions about rational choice and efficient markets, behavioural economics offers a robust alternative using insights and evidence that rest more easily with our understanding of how real people think, choose and decide. This insightful textbook introduces the key concepts from this rich, interdisciplinary approach to real-world decision-making. This new edition of Behavioural Economics and Finance is a thorough extension of the first edition, including updates to the key chapters on prospect theory; heuristics and bias; time and planning; sociality and identity; bad habits; personality, moods and emotions; behavioural macroeconomics; and well-being and happiness. It also includes a number of new chapters dedicated to the themes of incentives and motivations, behavioural public policy and emotional trading. Using pedagogical features such as chapter summaries and revision questions to enhance reader engagement, this text successfully blends economic theories with cutting-edge multidisciplinary insights. This second edition will be indispensable to anyone interested in how behavioural economics and finance can inform our understanding of consumers’ and businesses’ decisions and choices. It will appeal especially to undergraduate and graduate students but also to academic researchers, public policy-makers and anyone interested in deepening their understanding of how economics, psychology and sociology interact in driving our everyday decision-making.
Download or read book Drug Abuse Services Research Series written by and published by . This book was released on 1992 with total page 252 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Behavioural Incentive Design for Health Policy written by Joan Costa-Font and published by Cambridge University Press. This book was released on 2023-05-31 with total page 235 pages. Available in PDF, EPUB and Kindle. Book excerpt: Gives insight into the use of behavioural approaches to incentivise better health and health systems.
Download or read book Choice Behavioural Economics and Addiction written by Nick Heather and published by Elsevier. This book was released on 2003-11-13 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Understanding Canton written by Virgil Ho and published by Oxford University Press. This book was released on 2005-12-22 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 period indulged 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 impact on 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 the common 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 life and 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.
Download or read book The New Economics of Human Behaviour written by Mariano Tommasi and published by Cambridge University Press. This book was released on 1995-08-24 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt: This 1995 volume demonstrates the application of Beckerian theory upon a wide range of social and political activity.
Download or read book Handbook of Developments in Consumer Behaviour written by Victoria Wells and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 625 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Real World Decision Making written by Morris Altman and published by Bloomsbury Publishing USA. This book was released on 2015-06-23 with total page 690 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first and only encyclopedia to focus on the economic and financial behaviors of consumers, investors, and organizations, including an exploration of how people make good—and bad—economic decisions. Traditional economic theories speculate how and when people should spend money. But consumers don't always behave as expected and often adopt strategies that might appear unorthodox yet are, at times, more effective than the rule prescribed by conventional wisdom. This groundbreaking text examines the ways in which people make financial decisions, whether it is because they are smart but atypical in their choices ... or just irrational decision makers. A leading authority on behavioral economics, Morris Altman and more than 150 expert contributors delve into key concepts in behavioral economics, economic psychology, behavioral finance, neuroeconomics, experimental economics, and institutional economics to help inform economic models based on reality, not theory. Through 250 informative entries, the book explores various aspects of the subject including decision making, economic analysis, and public policy. In addition to introducing concepts to readers new to the subject, the book sheds light on more advanced financial topics in a manner that is objective, comprehensive, and accessible.
Download or read book Quality of Life written by Sally Baldwin and published by Routledge. This book was released on 2002-09-11 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt: Concern about the quality of life and its measurement is probably greater now than ever before. The last five years have seen considerable changes in policy, particularly in health and social service markets bringing into question appropriate measures of input and output. The issues addressed in this volume range from the philosophical question of what the good life is, to detailed studies of what constitutes a good quality of life for particular client groups. Quality of Life will be valuable reading for researchers and practitioners in social policy, social work and economics.
Download or read book The Economic Analysis of Substance Use and Abuse written by Frank J. Chaloupka and published by University of Chicago Press. This book was released on 2009-02-15 with total page 398 pages. Available in PDF, EPUB and Kindle. Book excerpt: Conventional wisdom once held that the demand for addictive substances like cigarettes, alcohol, and drugs was unlike that for any other economic good and, therefore, unresponsive to traditional market forces. Recently, however, researchers from two disparate fields, economics and behavioral psychology, have found that increases in the overall price of an addictive substance can significantly reduce both the number of users and the amounts those users consume. Changes in the "full price" of addictive substances—including monetary value, time outlay, effort to obtain, and potential penalties for illegal use—yield marked variations in behavioral outcomes and demand. The Economic Analysis of Substance Use and Abuse brings these distinctive fields of study together and presents for the first time an integrated assessment of their data and results. Unique and innovative, this multidisciplinary volume will serve as an important resource in the current debates concerning alcohol and drug use and abuse and the impacts of legalizing illicit drugs.
Download or read book Dimensions of Tax Design written by James A. Mirrlees and published by Oxford University Press. This book was released on 2010-04-29 with total page 1360 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Review was chaired by Nobel Laureate Professor Sir James Mirrlees of the University of Cambridge and the Chinese University of Hong Kong. --
Download or read book The Economics of Crime written by Harold Winter and published by Routledge. This book was released on 2008-05-14 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt: Wide ranging and accessible, this is the most up-to-date textbook in this area, taking current economic research and making it accessible to undergraduates and other interested readers.
Download or read book Social Norms Bounded Rationality and Optimal Contracts written by Suren Basov and published by Springer. This book was released on 2016-05-20 with total page 176 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book investigates the ways in which social norms and bounded rationality shape different contracts in the real world. It brings into focus existing research into optimal contracts, draws important lessons from that research, and outlines prospects for future investigation. Bounded rationality has acknowledged effects on the power of incentive provisions, such as deviations from sufficient statistic theorem, the power of optimal incentives, and the effects of optimal contracts in multicultural environments. The introduction of social norms to bounded rationality opens up new avenues of investigation into contracts and mechanism design. This book makes an important contribution to the study of bounded rationality by pulling together many separate strands of research in the area of mechanism design, and providing detailed analysis of the impact of societal values on contracts.
