Does Rational Addiction Imply Irrational Non-Addiction?
In this note, the implications of rational addiction theory for the acquisition of habits and addiction are explored. It is shown that, if age-specific death rates are uniform, habits should either be acquired at the beginning of life or not at all. By contrast, under the more realistic assumption that death rates are higher at higher ages, the rational addiction model implies that any addiction with positive initial benefits should be taken up as soon as the age-specific death rate is...[Show more]
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