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Comments on: Folk addiction = time inconsistency? http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/ The Visible Hand in Economics Tue, 11 Feb 2014 20:01:09 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: Policy and heterogeneity: A point | The Dismal Science http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42666 Tue, 11 Feb 2014 20:01:09 +0000 http://www.tvhe.co.nz/?p=10631#comment-42666 […] Sugary drinks hurt health, which hurts the person – and they don’t include that as they are time inconsistent. […]

]]> By: SCADA Training Institute in ch http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42632 Wed, 22 Jan 2014 10:29:00 +0000 http://www.tvhe.co.nz/?p=10631#comment-42632 wow very nice information.

thanks & regards

ePaxisautomation

]]> By: Matt Nolan http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42614 Wed, 15 Jan 2014 23:54:00 +0000 http://www.tvhe.co.nz/?p=10631#comment-42614 In reply to jamesz.

Ahh yes, this:

http://theunbrokenwindow.com/wp-content/uploads/2008/04/the-economics-of-brushing-teeth.pdf

I will have a look asap!

Update: That paper is brilliant

]]> By: jamesz http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42612 Wed, 15 Jan 2014 23:06:00 +0000 http://www.tvhe.co.nz/?p=10631#comment-42612 In reply to Matt Nolan.

I think ‘no’, ‘yes’, ‘yes’, probably much as you do. I sent you Blinder’s paper on toothbrushes that I think bears on the topic 😉

]]> By: Matt Nolan http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42609 Wed, 15 Jan 2014 22:42:00 +0000 http://www.tvhe.co.nz/?p=10631#comment-42609 In reply to jamesz.

Given this is more your area than mine, I suspect the problem must lie at my end. I am just asking whether economics definitions of addiction are equivalent to the definition used broadly in society (the folk definition).

Then I’m asking whether the existence of differing definitions among differing disciplines relate to part of the reason why we it can difficult to have a ‘cost-benefit’ conversation regarding addiction.

I agree with your conclusion and all – but I am also wondering if this is the case because we potentially don’t know about other descriptions of addiction. Always good to put the question out there.

]]> By: jamesz http://www.tvhe.co.nz/2014/01/15/folk-addiction-time-inconsistency/#comment-42606 Wed, 15 Jan 2014 10:36:00 +0000 http://www.tvhe.co.nz/?p=10631#comment-42606 As usual, I’m too ignorant of the topic to really understand what you’re saying. Rational addiction theories don’t appear to be a convincing causal explanation of addiction. However, their predictions are a reasonable fit to the stylised facts (intention to quit, failure to quit, etc) and the precommitment interventions they suggest have been quite successful. I see them as a way for economists to reconcile a poor model of human decision processes with the complex addiction patterns that we observe. For now they’re our best option but I hope that eventually the choice model will be improved to better describe human actions and they will become obsolete.

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