creators_name: Takahashi, Taiki
type: preprint
datestamp: 2011-12-16 00:08:51
lastmod: 2011-12-16 00:08:51
metadata_visibility: show
title: A neuroeconomic theory of rational addiction and
nonlinear time-perception.
subjects: behanal
subjects: behav-neuro-sci
subjects: bio-behav
subjects: cog-psy
subjects: comp-sci-stat-model
subjects: neuro-pharm
subjects: psy-bio
subjects: psy-phys
subjects: psycphs
full_text_status: public
keywords: Neuroeconomics; Econophysics; Addiction; Dopamine; Rationality; Tsallis'
statistics
abstract: Neuroeconomic conditions for “rational addiction” (Becker and Murphy, 1988) have
been unknown. This paper derived the conditions for “rational addiction” by utilizing a
nonlinear time-perception theory of “hyperbolic” discounting, which is mathematically
equivalent to the q-exponential intertemporal choice model based on Tsallis' statistics. It
is shown that (i) Arrow-Pratt measure for temporal cognition corresponds to the degree
of irrationality (i.e., Prelec’s “decreasing impatience” parameter of temporal
discounting) and (ii) rationality in addicts is controlled by a nondimensionalization
parameter of the logarithmic time-perception function. Furthermore, the present theory
illustrates the possibility that addictive drugs increase impulsivity via dopaminergic
neuroadaptation without increasing irrationality. Future directions in the application of
the model to studies in neuroeconomics are discussed.
date: 2011-11-22
date_type: completed
refereed: TRUE
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citation:   Takahashi, Ph.D Taiki  (2011) A neuroeconomic theory of rational addiction and nonlinear time-perception.  [Preprint]     
document_url: http://cogprints.org/7747/1/neuroeconomics%20addiction%20time.pdf