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Where did Becker place the concept of rational addiction in his economic analyses?
At the core
Ignored it
Slightly considered
Refuted the concept
Answer
At the core of Gary Becker's economic analyses is the concept of rational addiction. Becker argues that addiction is a rational choice made by individuals who weigh the costs and benefits of consuming a particular substance. For example, a person who smokes cigarettes may be aware of the health risks associated with smoking, but may continue to smoke because they enjoy the pleasurable effects of nicotine.
The Brilliant Mind of Gary Becker: An Engaging English Quiz on the Pioneering Economist!
More Questions
In Becker's opinion, can human behavior regarded as self-destructive also be rational?
In terms of Becker's understanding of human behavior, what can be seen as utility maximizing?
Which other economist followed Becker in the list of favorite economists over 60 in the 2011 survey?
Besides sociology, from which other field was Becker known to draw subjects for his economic analyses?
Becker's approach to human behavior incorporated what key aspect?
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