Addiction, present‐bias, and self‐restraint.
We study the economic rationale for people to engage in self‐restraint. Specifically, we show that when a good is addictive and harmful, forward‐looking present‐biased consumers have an incentive to restrict their current consumption—below the level at which marginal utility of consumption equals ma...
| Published in: | Southern Economic Journal Vol. 89; no. 1; pp. 138 - 160 |
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| Main Authors: | , |
| Format: | Article |
| Published: |
Wiley-Blackwell
Jul2022
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |