Question

For the article "The theory of Rational Addiction"

Did this paper make you realize something that you had not before?

Is the paper making any strong assumptions that you disagree with? If yes, what, according to you, will be a more plausible alternative assumption?

If there was one thing you could change about the model, what would that be? Will that make the model intractable?

Answer 1

It made me aware that there is some form of rationality in the way addicts work and think. I always thought that addicts are irrational beings who do things without thinking. But in fact they use reasoning power and analyse the payoffs which they get on the utility function.

The assumption that rational individuals consider the delayed effects of addictive behaviours as well as their immediate rewards and risks is faulty as rational individuals would consider only the gains which one attains at minimal cost so that he/she is not overcome by the costs. Thus according to me the most plausible assumption could be that rational individuals weigh in more heavily on the delayed effects which are more costly.

One thing which I could change about the model are the preferences which they have used. It should be able to focus on all forms of addictions and not just specific addicts of products. The model would prove its efficacy if it is widely applied.