The Market and Rational Decisions

  • John Joshua


The present consumption of addictive goods depends on past as well as future consumption. As smokers usually persist in their smoking activities because of their addiction, their decision to smoke has little to do with freedom of choice. Instead, smokers may show a lack of freedom of choice as they feel compelled to smoke to satisfy their irresistible urge to smoke and so do not have the freedom not to smoke.Furthermore, free choice cannot be exercised within a distorted market when the relevant information is not available, so that an informed decision cannot be made, and hence the decision-making process cannot be optimized.


Addictive goods Distorted market Freedom of choice 


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Copyright information

© The Author(s) 2017

Authors and Affiliations

  • John Joshua
    • 1
  1. 1.Deakin UniversityMelbourneAustralia

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