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Reconciling Psychology with Economics - Obesity, Behavioral Biology, and Rational Overeating

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  • Trenton Smith

    ()
    (School of Economic Sciences, Washington State University)

Abstract

Reconciling Psychology with Economics: Obesity, Behavioral Biology, and Rational Overeating Abstract: The modern phenomenon of obesity is an archetypal example of a behavior whose explanation simultaneously falls within the purview of psychology, economics, and the biological sciences. While psychologists and advocates of public health have long viewed overeating as a weakness or disease in need of treatment, economists have pointed out that "like any other consumer behavior" choices about diet and exercise can be viewed from the perspective of rational decision theory, subject to the influence of variation in price and income but not necessarily as a problem in need of a solution. Recent advances in our understanding of the physiological mechanisms by which genes influence behavior in modern socioeconomic environments have begun to point the way to a resolution to this debate. Drawing inspiration from the scientific literature on the neuroendocrinology of energy homeostasis, this paper reviews the empirical determinants of obesity in light of the biologist’s notion that humans and other animals evolved the ability to store body fat as an optimal response to the presence of starvation risk. This approach yields a powerful theoretical foundation, capturing such features of obesity as dynamic inconsistency, genetic variation, susceptibility to pharmaceutical intervention, and variation by season, socioeconomic status, and degree of financial security. It also provides a framework for reconciling the conflict between behavioral (descriptive) and neoclassical (prescriptive) economics.

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File URL: http://faculty.ses.wsu.edu/WorkingPapers/Reconciling_TGSmith.pdf
File Function: First version, 2006
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Bibliographic Info

Paper provided by School of Economic Sciences, Washington State University in its series Working Papers with number 2006-4.

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Length: 44 pages
Date of creation: May 2006
Date of revision:
Handle: RePEc:wsu:wpaper:tgsmith-1

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Web page: http://faculty.ses.wsu.edu/
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Keywords: evolution; behavioral ecology; neuroeconomics; self-control; serotonin; nico-tine; MDMA;

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References

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  1. David M. Cutler & Edward L. Glaeser & Jesse M. Shapiro, 2003. "Why Have Americans Become More Obese?," Harvard Institute of Economic Research Working Papers 1994, Harvard - Institute of Economic Research.
  2. Smith, Trenton G. & Tasnadi, Attila, 2005. "A Theory of Natural Addiction," 2005 Annual meeting, July 24-27, Providence, RI 19195, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
  3. Thaler, Richard H & Shefrin, H M, 1981. "An Economic Theory of Self-Control," Journal of Political Economy, University of Chicago Press, vol. 89(2), pages 392-406, April.
  4. Shapiro, Jesse & Glaeser, Edward & Cutler, David, 2003. "Why Have Americans Become More Obese," Scholarly Articles 2640583, Harvard University Department of Economics.
  5. Ainslie, George, 1991. "Derivation of "Rational" Economic Behavior from Hyperbolic Discount Curves," American Economic Review, American Economic Association, vol. 81(2), pages 334-40, May.
  6. Hirshleifer, Jack, 1977. "Economics from a Biological Viewpoint," Journal of Law and Economics, University of Chicago Press, vol. 20(1), pages 1-52, April.
  7. Smith, Trenton G, 2002. "The McDonald's Equilibrium: Advertising, Empty Calories, and the Endogenous Determination of Dietary Preferences," University of California at Santa Barbara, Economics Working Paper Series qt0hx9x4jr, Department of Economics, UC Santa Barbara.
  8. 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.
  9. Arthur J. Robson, 2001. "The Biological Basis of Economic Behavior," Journal of Economic Literature, American Economic Association, vol. 39(1), pages 11-33, March.
  10. Jack Hirshleifer, 1977. "Economics from a Biological Viewpoint," UCLA Economics Working Papers 087, UCLA Department of Economics.
  11. Shin-Yi Chou & Michael Grossman & Henry Saffer, 2002. "An Economic Analysis of Adult Obesity: Results from the Behavioral Risk Factor Surveillance System," NBER Working Papers 9247, National Bureau of Economic Research, Inc.
  12. Hirshleifer, Jack, 1985. "The Expanding Domain of Economics," American Economic Review, American Economic Association, vol. 75(6), pages 53-68, December.
  13. Jonathan Gruber & Michael Frakes, 2005. "Does Falling Smoking Lead to Rising Obesity?," NBER Working Papers 11483, National Bureau of Economic Research, Inc.
  14. Rogers, Alan R, 1994. "Evolution of Time Preference by Natural Selection," American Economic Review, American Economic Association, vol. 84(3), pages 460-81, June.
  15. Smith Trenton G. & Stoddard Christiana & Barnes Michael G, 2009. "Why the Poor Get Fat: Weight Gain and Economic Insecurity," Forum for Health Economics & Policy, De Gruyter, vol. 12(2), pages 1-31, June.
  16. Faruk Gul & Wolfgang Pesendorfer, 2001. "Temptation and Self-Control," Econometrica, Econometric Society, vol. 69(6), pages 1403-1435, November.
  17. Shefrin, Hersh M & Thaler, Richard H, 1988. "The Behavioral Life-Cycle Hypothesis," Economic Inquiry, Western Economic Association International, vol. 26(4), pages 609-43, October.
  18. Barnes Michael G & Smith Trenton G., 2009. "Tobacco Use as Response to Economic Insecurity: Evidence from the National Longitudinal Survey of Youth," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(1), pages 1-29, November.
  19. Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
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Cited by:
  1. Campos-Vazquez, Raymundo M. & Cuilty, Emilio, 2013. "The Role of Emotions on Risk Aversion: A prospect theory experiment," MPRA Paper 48280, University Library of Munich, Germany.
  2. Smith Trenton G. & Stoddard Christiana & Barnes Michael G, 2009. "Why the Poor Get Fat: Weight Gain and Economic Insecurity," Forum for Health Economics & Policy, De Gruyter, vol. 12(2), pages 1-31, June.
  3. Avner Offer & Rachel Pechey & Stanley Ulijaszek, 2010. "Obesity under affluence varies by welfare regimes: the effect of fast food, insecurity, and inequality," Oxford University Economic and Social History Series _082, Economics Group, Nuffield College, University of Oxford.
  4. Stutzer, Alois, 2007. "Limited Self-Control, Obesity and the Loss of Happiness," IZA Discussion Papers 2925, Institute for the Study of Labor (IZA).
  5. Venturini, Luciano, 2006. "Food and Health: A European Perspective," Conference Papers 6684, University of Minnesota, Center for International Food and Agricultural Policy.
  6. Smith, Trenton G. & Stillman, Steven & Craig, Stuart, 2013. "The U.S. Obesity Epidemic:New Evidence from the Economic Security Index," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151419, Agricultural and Applied Economics Association.

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