A comparison of rational addiction and time inconsistency models of addiction highlights the complexities of model selection when researchers have goals in addition to empirical fit. Although currently the two models of addiction are underdetermined by data, each offers a different understanding...

By incorporating a divided self into the rational addiction framework, this paper provides a rationale for and an explicit analysis of two types of budget-shrinking behaviors - actions taken to limit access to lifetime wealth in a given period, and actions taken to change the effective price of...

Many analysts predict a resurgence in national savings as baby boomers approach retirement. This analysis of demographic trends and survey measures of savings and income suggests that such expectations may be ill founded. Although baby boomer saving rates will likely rise over the next twenty...