TY  - JOUR
ID  - iiasa4254
UR  - https://pure.iiasa.ac.at/id/eprint/4254/
IS  - 2
A1  - Wirl, F.
A1  - Feichtinger, G.
Y1  - 1995/04//
N2  - This article reconsiders a model of Becker and Murphy on rational addiction. Inter alia, they show that a psychological property of consumption (addiction or habits) can induce complex and, in particular, cyclical behavior (binges). The purpose of this article is to prove that economic reasons (the difference between individual discounting and market rates of interest) can explain rational cycles too.
PB  - Sage
JF  - Rationality and Society
VL  - 7
SN  - 1043-4631
TI  - Persistent cyclical consumption: Variations on the Becker-Murphy model of addiction
SP  - 156
AV  - none
EP  - 166
ER  -