title: Is addiction a failure of rationality?
abstract: This note argues that addiction itself can be seen as a form of double failure, specifically the failure to stick to a predetermined optimal lifetime consumption path for an addictive commodity, which failure might be the result of bad luck, and the failure to adjust the level of consumption of the addictive commodity once the consumer is off their optimal path, which might be seen as a failure of judgment.
authors.affiliation: Department of Economics, University of Guelph, Guelph, Ontario, Canada. brianfer@uoguelph.ca
authors.forename: Brian
authors.initials: B
authors.lastname: Ferguson
mesh_terms: D016739:Behavior, Addictive / Q000523:psychology*; D006801:Humans; D007600:Judgment; D008960:Models, Psychological