Browsing Statistics Norway's Open Research Repository (SNORRe) by Subject "Rational addiction theory"
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Some fundamental problems in Becker, Grossman and Murphy's implementation of rational addiction theory
(Discussion Papers;No. 375, Working paper, 2004)Abstract: The econometric implementation of rational addiction theory has been highly influenced by Becker, Grossman and Murphy (BGM). They specify an Euler equation where current consumption is determined by current price ...