Rational addiction and time-consistency: An empirical test

被引：3

作者：

Piccoli, Luca ^{[1
,2
]}

Tiezzi, Silvia ^{[3
]}

机构：

[1] Univ Trento, Dept Sociol & Social Res, Via Verdi 26, I-38122 Trento, Italy

[2] IZA, Via Verdi 26, I-38122 Trento, Italy

[3] Univ Siena, Dept Econ & Stat, Piazza San Francesco 7-8, I-53100 Siena, Italy

来源：

JOURNAL OF HEALTH ECONOMICS | 2021年 / 80卷

关键词：

Rational addiction; General versus standard specification; Time-consistency; Naivete; GMM; PANEL-DATA; ALCOHOL ADDICTION; JOB SEARCH; DEMAND; MODEL; GMM; INCONSISTENCY; HETEROGENEITY;

D O I：

10.1016/j.jhealeco.2021.102546

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper addresses one of the main empirical problems associated with rational addiction theory, namely, that its derived demand equation is not empirically distinguishable from those of models with forward-looking behavior but with time-inconsistent preferences. Using an encompassing general specification of the rational addiction model we derive a microfounded test of time-consistency. The test allows us to distinguish between time-consistent versus time inconsistent naive agents. The results obtained from a panel of Russian individuals conform to the theoretical predictions of the rational addiction model and the proposed test for time-consistency does not reject the hypothesis that Russian cigarette consumers are time-consistent.

引用

页数：15

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