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Impatience and Immediacy: A Quasi-Hyperbolic Discounting Approach to Smoking Behavior

  • Takanori Ida

This paper investigates smoking status, including nicotine dependence, on the basis of a quasi-hyperbolic discounting approach. This approach reconciles the traditional rational addiction model and the bounded rational addiction model. The paper measures two key parameters: impatience, in line with the former model, and immediacy, in line with the latter model. There are two main conclusions. First, the impatience and immediacy parameters are positively associated with smoking probability. Second, they are positively associated with nicotine dependence.

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File URL: http://www.econ.kyoto-u.ac.jp/projectcenter/Paper/e-11-010.pdf
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Paper provided by Graduate School of Economics Project Center, Kyoto University in its series Discussion papers with number e-11-010.

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Length: 32 pages
Date of creation: Feb 2012
Date of revision:
Handle: RePEc:kue:dpaper:e-11-010
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  1. Blondel, Serge & Loheac, Youenn & Rinaudo, Stephane, 2007. "Rationality and drug use: An experimental approach," Journal of Health Economics, Elsevier, vol. 26(3), pages 643-658, May.
  2. Anderhub, Vital & Gneezy, Uri & Güth, Werner & Sonsino, Doron, 1999. "On the interaction of risk and time preferences: An experimental study," SFB 373 Discussion Papers 1999,65, Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes.
  3. Fehr, Ernst & Zych, Peter K, 1998. " Do Addicts Behave Rationally?," Scandinavian Journal of Economics, Wiley Blackwell, vol. 100(3), pages 643-62, September.
  4. Akerlof, George A, 1991. "Procrastination and Obedience," American Economic Review, American Economic Association, vol. 81(2), pages 1-19, May.
  5. Laibson, David I., 1997. "Golden Eggs and Hyperbolic Discounting," Scholarly Articles 4481499, Harvard University Department of Economics.
  6. Messinis, G., 1998. "Habit Formation and the Theory of Addiction," Department of Economics - Working Papers Series 635, The University of Melbourne.
  7. Steffen Andersen & Glenn W. Harrison & Morten I. Lau & E. Elisabet Rutström, 2008. "Eliciting Risk and Time Preferences," Econometrica, Econometric Society, vol. 76(3), pages 583-618, 05.
  8. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
  9. Bhat, Chandra R., 2001. "Quasi-random maximum simulated likelihood estimation of the mixed multinomial logit model," Transportation Research Part B: Methodological, Elsevier, vol. 35(7), pages 677-693, August.
  10. Gary S. Becker & Kevin M. Murphy, 1986. "A Theory of Rational Addiction," University of Chicago - George G. Stigler Center for Study of Economy and State 41, Chicago - Center for Study of Economy and State.
  11. Kan, Kamhon, 2007. "Cigarette smoking and self-control," Journal of Health Economics, Elsevier, vol. 26(1), pages 61-81, January.
  12. Train,Kenneth E., 2009. "Discrete Choice Methods with Simulation," Cambridge Books, Cambridge University Press, number 9780521766555.
  13. repec:pse:psecon:2010-21 is not listed on IDEAS
  14. Takanori Ida & Rei Goto, 2009. "Simultaneous Measurement Of Time And Risk Preferences: Stated Preference Discrete Choice Modeling Analysis Depending On Smoking Behavior," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 50(4), pages 1169-1182, November.
  15. Jonathan Gruber & Botond Köszegi, 2001. "Is Addiction "Rational"? Theory And Evidence," The Quarterly Journal of Economics, MIT Press, vol. 116(4), pages 1261-1303, November.
  16. Drazen Prelec, 2004. "Decreasing Impatience: A Criterion for Non-stationary Time Preference and "Hyperbolic" Discounting," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(3), pages 511-532, October.
  17. Becker, Gary S & Mulligan, Casey B, 1997. "The Endogenous Determination of Time Preference," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 729-58, August.
  18. W. Kip Viscusi & Joni Hersch, 2001. "Cigarette Smokers As Job Risk Takers," The Review of Economics and Statistics, MIT Press, vol. 83(2), pages 269-280, May.
  19. Clément de Chaisemartin & Pierre‐Yves Geoffard & Anne‐Laurence le Faou, 2011. "Workplace smoking ban effects on unhappy smokers," Health Economics, John Wiley & Sons, Ltd., vol. 20(9), pages 1043-1055, 09.
  20. Marjon van der Pol, 2011. "Health, education and time preference," Health Economics, John Wiley & Sons, Ltd., vol. 20(8), pages 917-929, 08.
  21. Ida, Takanori, 2010. "Anomaly, impulsivity, and addiction," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 39(2), pages 194-203, April.
  22. Marjon van der Pol & John Cairns, 2011. "Descriptive validity of alternative intertemporal models for health outcomes: an axiomatic test," Health Economics, John Wiley & Sons, Ltd., vol. 20(7), pages 770-782, July.
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