Why smokers are happier when cigarettes cost more.
19th May 2008
Let’s just say I’m not convinced. Although it does have its moments of unintended humor.
This turns out to be a controversial point for economists, surely members of the only profession that could argue about whether smoking is rational.
And there is nothing necessarily irrational about deciding to embark on a course of action that many find enjoyable but that is painful to reverse. Otherwise, marriage would be irrational too.