Myopia and addictive behaviour

Article Abstract:

A theory of addictive behavior was discussed to explain addicts' behavior of disregard involving future outcome of their present actions. The theory clearly illustrates a rational paradigm by incorporating it with some of the features of irrational models of addiction. It shows that addicitve behavior results due to time consistent expected utility maximization that is connected to a trade off between rewards of present consumption and the expected costs of lower future utility.

Economics, Research and Development in the Social Sciences and Humanities, Psychology & Psychiatry, Psychological aspects, Compulsive behavior, Satisfaction, Satisfaction (Psychology)

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Involuntary unemployment and non-compensating wage differentials in an experimental labour market

Article Abstract:

The outcomes of a series of efficiency wage experiments are presented. A few of the predictions of the efficiency wage hypothesis have been confirmed by the data. Higher wages were found to lead to a reduction in the probability of shirking. Firms which incurred positive job rents offered contracts. Firms having different wages and job rents resulted in non-compensating wage differentials.

Unemployment, Labor market

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