Cyclical consumption patterns and rational addiction

Article Abstract:

Rational-choice theory does not appear to be consistent with the empirical results of studies of consumption behavior, such as addiction. However, using rational-choice theory to analyze addiction helps researchers develop a better understanding of addictive behavior. A model is presented to show that consumption cycles are explained through rational-addiction models that do not incorporate commodity-specific consumption capital. The model also shows that consumption behavior can end up in a limit cycle.

Compulsive behavior, Rational expectations (Economics)

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A tight upper bound on the money metric utility function

Article Abstract:

The group of bundles of goods revealed preferred to a particular bundle is simply the convex, monotonic hull of all of the bundles from the set of data that are revealed preferred to the particular bundle. Hal R. Varian proposed a technique for cardinalizing preferences that involves the least upper bound for the money metrics of every utility function that could produce a certain group of consumption data. A simple method of calculating the upper bound is presented.

Utility theory, Utility functions

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Continuous strategy games as location games

Article Abstract:

Location games are characterized by firm selection of a location on a set of distributed consumers where firms secure the market for buyers nearer to its location than its competitors. Such a system can also be described as a symmetric, constant-sum, two-person game with a two-factor strategy set and payoff functions. These location games can establish a geometric description of the Cournot duopoly market.

Research, Industrial locations, Industrial location, Game theory

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