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A Theory of Chronic Loss, Suffering and Alcoholism

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Author Info
Levy, Amnon () (University of Wollongong)

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Abstract

This paper focuses on the consumption of alcohol to numb the suffering associated with failure. While drinking reduces the individual’s current level of suffering, it leads to future failures and potentially greater suffering. The basic model shows that the stationary status of an alcoholic is improved by the difference between his rate of time preference and the rate of return on his status and that this improvement is amplified by the ratio of the instantaneous suffering-relief effect to the status-eroding effect of alcohol. The extended model shows that society’s reaction to alcoholism may lead to permanent cyclical alcohol consumption.

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow012135.pdf
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Publisher Info
Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp02-16.

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Length: 23 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:uow:depec1:wp02-16

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Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
Phone: +612 4221-3663
Fax: +612 4221-3725
Web page: http://www.uow.edu.au/commerce/econ/
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Related research
Keywords: alcoholism; suffering; alcohol consumption;

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Find related papers by JEL classification:
D99 - Microeconomics - - Intertemporal Choice and Growth - - - Other
Z00 - Other Special Topics - - General - - - General

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Vivian Hamilton & Barton H. Hamilton, 1997. "Alcohol and Earnings: Does Drinking Yield a Wage Premium," Canadian Journal of Economics, Canadian Economics Association, vol. 30(1), pages 135-51, February. [Downloadable!] (restricted)
  2. Douglas, Stratford, 1998. "The Duration of the Smoking Habit," Economic Inquiry, Oxford University Press, vol. 36(1), pages 49-64, January.
  3. Grossman, Michael & Chaloupka, Frank J & Sirtalan, Ismail, 1998. "An Empirical Analysis of Alcohol Addiction: Results from the Monitoring the Future Panels," Economic Inquiry, Oxford University Press, vol. 36(1), pages 39-48, January.
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  4. Waters, Teresa M & Sloan, Frank A, 1995. "Why Do People Drink? Tests of the Rational Addiction Model," Applied Economics, Taylor and Francis Journals, vol. 27(8), pages 727-36, August.
  5. Barrett, Garry F, 2002. "The Effect of Alcohol Consumption on Earnings," The Economic Record, The Economic Society of Australia, vol. 78(240), pages 79-96, March. [Downloadable!] (restricted)
  6. Richard H. Thaler, 2000. "From Homo Economicus to Homo Sapiens," Journal of Economic Perspectives, American Economic Association, vol. 14(1), pages 133-141, Winter. [Downloadable!] (restricted)
  7. Dockner, Engelbert J & Feichtinger, Gustav, 1993. "Cyclical Consumption Patterns and Rational Addiction," American Economic Review, American Economic Association, vol. 83(1), pages 256-63, March. [Downloadable!] (restricted)
  8. Stigler, George J & Becker, Gary S, 1977. "De Gustibus Non Est Disputandum," American Economic Review, American Economic Association, vol. 67(2), pages 76-90, March.
  9. Hamermesh, Daniel S & Soss, Neal M, 1974. "An Economic Theory of Suicide," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 83-98, Jan.-Feb.. [Downloadable!] (restricted)
  10. Becker, Gary S & Murphy, Kevin M, 1988. "A Theory of Rational Addiction," Journal of Political Economy, University of Chicago Press, vol. 96(4), pages 675-700, August. [Downloadable!] (restricted)
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