Chaotic consumption patterns in a simple2-D addiction model

B-Tier
Journal: Economic Theory
Year: 1997
Volume: 10
Issue: 1
Pages: 147-173

Score contribution per author:

0.670 = (α=2.01 / 3 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Consumption fluctuations in a simple 2-D addiction model are investigated. The behavioural equations of the model are suggested by a related `rational addiction' model of Becker and Murphy [2]. Our model generates erratic, seemingly unpredictable consumption patterns of the addicted persons. The occurence of chaos is proven by locating a so called horseshoe map in the phase space.

Technical Details

RePEc Handle
repec:spr:joecth:v:10:y:1997:i:1:p:147-173
Journal Field
Theory
Author Count
3
Added to Database
2026-01-25