The Becker Murphy Model of Rational Addiction: Part 2/3 @EconJohnTutor
The Becker Murphy Model of Rational Addiction: Part 2/3 @EconJohnTutor
Uploaded May 2021 | Updated September 2026, 3 weeks ago
In this video we work through a simplified example of the rational addiction model and demonstrate existence of two equilibria one which is stable and one which is unstable.
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The Becker Murphy Model of Rational Addiction: Part 2/3

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