Choice of addictive behavior: Temptation, risks, and self-control

In: Voprosy ėkonomiki: ežemesjačnyj žurnal, Heft 12, S. 104-128

Abstract

Today there are several common approaches to the study of addictive consumer choice. However, one of the existing approaches is often overlooked due to its complexity. This article aims to fill this gap. We start with a brief retrospective overview of the history of the issue and proceed by a detailed analysis of current research in the field of choice theory which takes into account the evolution of preferences over time in the presence of addiction. These preferences lead to deviation of a rational consumer from rationality under the influence of temptation, addiction, desire to have a greater choice etc.