%0 Journal Article
%@ 1432-1386
%A Feichtinger, G.
%A Prskawetz, A.
%A Herold, W.
%A Zinner, P.
%D 1995
%F iiasa:4263
%I Springer
%J Journal of Evolutionary Economics
%K Local bifurcation analysis; Neimark-Sacker bifurcation; Quasiperiodic dynamics; Addiction; Habit formation
%N 2
%P 157-172
%R 10.1007/BF01199855
%T Habit formation with threshold adjustment: Addiction may imply complex dynamics
%U https://pure.iiasa.ac.at/id/eprint/4263/
%V 5
%X A time-discrete descriptive model of habit formation is presented. Addictive behaviour is damped by a threshold which adapts itself to the habit. This simple framework is able to explain periodic, quasi-periodic as well as chaotic consumption patterns of addictive consumers. It turns out that both a high adjustment rate and a steep consumption function favour complex (chaotic) patterns.