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Modelling Addictive Consumption: Some Theoretical and Econometric Issues

Author

Listed:
  • Chongwoo Choe

    (School of Economics, La Trobe University)

  • Imad A Moosa

    (School of Economics, La Trobe University)

Abstract

This paper addresses some theoretical and econometric aspects of modelling addictive consumption. We show that the solution to the optimisation problem leads to a specification of the reduced form equation which is different from what is found in the literature. We also demonstrate that it is also valid to apply OLS to estimate this reduced form equation and those used in the literature although the underlying variables are integrated.

Suggested Citation

  • Chongwoo Choe & Imad A Moosa, 1997. "Modelling Addictive Consumption: Some Theoretical and Econometric Issues," Working Papers 1997.10, School of Economics, La Trobe University.
  • Handle: RePEc:trb:wpaper:1997.10
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    Keywords

    Econometrics; Consumers;

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