English, Article, Journal or magazine article edition: Smoking and Health Investments: Impacts of Health Adaptation and Damage Reversibility Carbone, Jared; Kverndokk, Snorre; Røgeberg, Ole-Jørgen

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Bookmark: http://trove.nla.gov.au/version/120397
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Smoking and Health Investments: Impacts of Health Adaptation and Damage Reversibility
Author
  • Carbone, Jared
  • Kverndokk, Snorre
  • Røgeberg, Ole-Jørgen
Physical Description
  • preprint
Notes
  • In the present paper we examine how different sets of beliefs about the health effects of smoking would influence a rational smoker. By embedding the rational addiction theory in a Grossman model of health investment modified to take account of psychological adaptation effects, we present a model of a rational addict that allows us to explicitly specify beliefs about a direct and indirect effect on both death risk and utility. This allows us to study how a rational addict would smoke with different beliefs of cancer risks, and with or without the well-documented ability to adapt to health changes. Numerical simulation results illustrate a number of different incentives that influence the smoking paths and health investments under the various beliefs, and suggests that beliefs have different impacts at different ages, providing a richer set of dynamics than might initially be expected.
  • Rational addiction; Demand for health; Adaptation; Risk; Life extension
  • RePEc:hhs:oslohe:2003_012
Language
  • English
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