more time consistent when trading-off the current pleasure from smoking and its future health harms, and (iii) smoking bans …

-inconsistent smokers better off. Health economists have used this result to argue in favor of cigarette taxes that restrain smoking … benefit a smoker at every point in life. Smokers could be allowed to purchase smoking licenses' when they start to smoke, and …

inconsistent' about decisions such as smoking, having a higher discount rate between this period and the next than between future … implications for government policy towards smoking. Unlike the traditional model, our alternative implies that there is a role for …

theory in which individuals take into account the fact that the consumption of addictive goods reduces their health and … motivating empirically observable patterns of addictive goods consumption. I take the case of smoking as unhealthy behavior …, calibrate the model with U.S. data, and apply it in order to investigate the life cycle patterns of smoking and quitting smoking …