Sunday, January 13, 2008
Smokers and junkies are supersmart and rational?
Junkies, binge-eaters, smokers and other addicts are über-rational, far-sighted people who are consistently following up on their welfare-maximizing plans to smoke more cigarettes, inject more heroin etc. over time. Or so claimed a Nobel Laureate economist - whose theory is now the standard way economists work with addiction.
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