Topics
Degree of addiction
This measures the extent to which people habitually buy and consumer certain products even when there is a significant change in price and/or information about the effects of their decisions. According to economist Gary Becker, strong addiction to a good requires a big effect of past consumption of the good on current consumption.
-
Behavioural Theory in Action (Behavioural Economics)
Topic Videos
-
Government regulates stakes on fixed-odds machines
31st October 2017