The purpose of this paper is to test Becker and Murphy's (1988) rational addiction model on (35 years of) time series data on alcohol consumption in each of the four Nordic countries: Denmark, Finland, Norway and Sweden. The empirical relevance of rational addiction theory is assessed by examining the influence of past and future consumption as well as past, contemporaneous and future prices on current consumption.
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Paper provided by Aarhus School of Business - Department of Economics in its series Papers with number
97-16.
Length: 21 pages Date of creation: 1997 Date of revision: Handle: RePEc:fth:aascbu:97-16
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Find related papers by JEL classification: D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis I10 - Health, Education, and Welfare - - Health - - - General
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