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Physiological, Gastronomic and Budgetary Aspects and the Diets of Perfectly and Imperfectly Lifetime-Rational Consumers

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Abstract

This paper analyzes the qualitative and quantitative deviations of rational consumers from their physiologically optimal diets with a distinction between a nutritionally and digestively superior food and a taste and price superior food. The inclusion of a cause-and-effect relationships of these quantitative and qualitative deviations with ageing, craving, digestive discomfort, health-dependent budget, non-food consumption and utility, uncertainty about food’s classification and imperfect dynamic consideration and sophistication adds realistic features to the analysis of rational eating and junk-food tax.pages

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow099928.pdf
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Bibliographic Info

Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp11-13.

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Length: 21 pages
Date of creation: 2011
Date of revision:
Handle: RePEc:uow:depec1:wp11-13

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Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
Phone: +612 4221-3659
Fax: +612 4221-3725
Web page: http://business.uow.edu.au/econ/index.html
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Keywords: Diet; Ageing; Craving; Rationality; Junk-Food Tax;

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  1. Levy, Amnon, 2002. "A lifetime portfolio of risky and risk-free sexual behaviour and the prevalence of AIDS," Journal of Health Economics, Elsevier, vol. 21(6), pages 993-1007, November.
  2. Levy, Amnon, 2006. "Junk Food, Health and Productivity: Taste, Price, Risk and Rationality," Economics Working Papers wp06-22, School of Economics, University of Wollongong, NSW, Australia.
  3. Tomas J. Philipson & Richard A. Posner, 1999. "The Long-Run Growth in Obesity as a Function of Technological Change," Working Papers 9912, Harris School of Public Policy Studies, University of Chicago.
  4. Levy, Amnon, 2002. "A Theory of Rational Junk-Food Consumption," Economics Working Papers wp02-11, School of Economics, University of Wollongong, NSW, Australia.
  5. Wesley A. Magat & W. Kip Viscusi, 1992. "Informational Approaches to Regulation," MIT Press Books, The MIT Press, edition 1, volume 1, number 026213277x, December.
  6. Dragone, Davide, 2009. "A rational eating model of binges, diets and obesity," Journal of Health Economics, Elsevier, vol. 28(4), pages 799-804, July.
  7. Darius Lakdawalla & Tomas Philipson, 2002. "The Growth of Obesity and Technological Change: A Theoretical and Empirical Examination," NBER Working Papers 8946, National Bureau of Economic Research, Inc.
  8. Wuyang Hu & Wiktor L. Adamowicz & Michele M. Veeman, 2006. "Labeling Context and Reference Point Effects in Models of Food Attribute Demand," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 88(4), pages 1034-1049.
  9. Levy, Amnon, 2002. "Rational eating: can it lead to overweightness or underweightness?," Journal of Health Economics, Elsevier, vol. 21(5), pages 887-899, September.
  10. Levy, Amnon, 2009. "Rational eating: A proposition revisited," Journal of Health Economics, Elsevier, vol. 28(4), pages 908-909, July.
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