Would a Rational Lucy Take-Off Without Assessing the Probability Of a Crash Landing?
نویسندگان
چکیده
A random life expectancy and a positive relationship between the probability of dying and the degree of addiction are incorporated into a model of rational addiction. The BeckerMurphy equality between the addictive commodity’s full price and marginal utility is modified by discounting the market price and marginal utility of the addictive commodity by the probability of survival. The individual’s appreciation of the consumption capital stock is positive as long as the improved consumption enjoyment dominates the diminishing survival prospects. The rate of change of the shadow price of addiction is lower than that obtained when the effect of addiction on the probability of dying is ignored. (JEL classification: D91) Affiliation and contact information: Amnon Levy is a member of the Department of Economics, University of Wollongong, Northfields Avenue, Wollongong, NSW 2522, Australia. (Tel: 61-2-42213658 or 61-2-42258244, Fax: 61-2-42213725, E-mail: [email protected]).
منابع مشابه
Cut-off Sampling Design: Take all, Take Some, and Take None
Extended Abstract. Sampling is the process of selecting units (e.g., people, organizations) from a population of interest so that by studying the sample we may fairly generalize our results back to the population from which they were chosen. To draw a sample from the underlying population, a variety of sampling methods can be employed, individually or in combination. Cut-off sampling is a pr...
متن کاملFunctional evolution of jumping in frogs: Interspecific differences in take-off and landing.
Ancestral frogs underwent anatomical shifts including elongation of the hindlimbs and pelvis and reduction of the tail and vertebral column that heralded the transition to jumping as a primary mode of locomotion. Jumping has been hypothesized to have evolved in a step-wise fashion with basal frogs taking-off with synchronous hindlimb extension and crash-landing on their bodies, and then their l...
متن کاملSimulation Modeling and Analysis of In-Flight Service Operations for Commercial Passenger Flights
Nowadays, in-flight comfort has become an essential characteristic to survive in domestic airline businesses. Air hostesses’ quality of service and response time to customer demand plays a vital role in enhancing quality of the flight experience and passenger satisfaction. However, additional requirements on air hostess expose them to fatigue which could eventually result in job dissatisfac...
متن کاملبررسی تقارن اجزای نیروی عکس العمل زمین هنگام پرش عمودی در افراد با پارگی یک طرفه رباط متقاطع قدامی زانو
Objectives: The aim of this study was to assess the symmetry of ground reaction forces in patient with ACL rupture during vertical jump. Methods: Six men with ACLD (anterior cruciate ligament disease) participated in this study. Ground reaction forces components were assessed during Sargent jump by Kistler force plate. Data were analyzed running dependent Samples T-test and Repeated Measure in...
متن کاملA Statistical Analysis of the Aircraft Landing Process
Managing operations of the aircraft approach process and analyzing runway landing capacity, utilization and related risks require detailed insight into the stochastic characteristics of the process. These characteristics can be represented by probability distributions. The focus of this study is analyzing landings on a runway operating independent of other runways making it as a single runway. ...
متن کامل