Consumer Casualties : Exploring the Economics of Habit, Information, and Uncertainty in Japan

Junmin Wan takes a two prong approach to analysing this pressure in Japan in his new volume Consumer Casualties. He first clarifies the consumer preference for habit to identify useful approaches toward solving a number of economic issues, such as gambling and other addictive practices. In our increasingly globalized world of shared cultures, we have seen the spread of addictive behaviors, such as smoking and various forms of gambling. As these behaviors and subsequent habits continue to spread across borders, it is paramount for policy makers to consider the economics of habit, information, and uncertainty in their practices. Wan takes a two prong approach to analyzing this pressure in Japan in his new volume Consumer Casualties. He first clarifies the consumer preference for habit to identify useful approaches toward solving a number of economic issues, such as gambling and other addictive practices. He then tests his theories with data on smoking, lottery gambling, and pachinko gambling to determine their causalities and distill proposals for policy makers In Our Increasingly Globalized World Of Shared Cultures, We Have Seen The Spread Of Addictive Behaviors Such As Smoking And Various Forms Of Gambling. As These Behaviors And Subsequent Habits Continue To Spread Across Borders, It Is Paramount For Policy Makers To Consider The Economics Of Habit, Information And Uncertainty In Their Practices. Junmin Wan Takes A Two Prong Approach To Analyzing This Pressure In Japan In His New Volume Consumer Casualties. He First Clarifies The Consumer Preference For Habit To Identify Useful Approaches Toward Solving A Number Of Economic Issues, Such As Gambling And Other Addictive Practices. He Then Tests His Theories With Data On Smoking, Lottery Gambling And Pachinko Gambling, To Determine Their Causalities And Distill Proposals For Policy Makers-- This Work Tries To Examine The Economics Of Habits Via Theoretical Models And Empirical Testing Of The Models Using Micro And Macro Datasets, As They Pertain To Addressing Various Economics Issues, Including Habit Forming Or Addictive Behaviors Such As Smoking And Various Forms Of Gambling. The Issues Of Information Asymmetry (e.g., The Effect Of Lottery Receipt On Experiment On Tax Evasion) And Uncertainty As They Pertain To Consumers And Their Preferences And Habits Are Also Included-- 1. Introduction -- 2. Rational Addiction With An Optimal Inventory: Theory And Evidence From Japanese Daily And Monthly Purchases -- 3. Response To Health Information: Theory And Evidence From Cigarette Consumption And Intake Of Nicotine And Tar In Japan -- 4. Responses Of Consumers To The Mandatory Disclosure Of Information: Evidence From Japanese Inter-brand Cigarette Sales -- 5. Is Gambling Addictive? Evidence From Pachinko Participation, Quitting, And Re-initiating -- 6. Are Gambling And Smoking Complementary? Direct Tests From Japanese Individual Data -- 7. Tax Revenue In China And The Incentive To Declare Taxes: The Lottery Receipt Experiment -- 8. Is The Life-cycle Model Or Ono's Model Most Suitable For The Japanese?: Analysis By Time-series Data And Surveys Of Lottery Purchase And Large-prize Winners 90 -- 9. Conclusions. Junmin Wan. Includes Bibliographical References And Index. Front Matter....Pages i-xxii Introduction....Pages 1-5 Rational Addiction with an Optimal Inventory: Theory and Evidence from Japanese Daily and Monthly Purchases....Pages 7-28 Response to Health Information: Theory and Evidence from Cigarette Consumption and Intake of Nicotine and Tar in Japan....Pages 29-51 Responses of Consumers to Mandatory Disclosure of Information: Evidence from Japanese Interbrand Cigarette Sales....Pages 53-86 Is Gambling Addictive? Evidence from Pachinko Participation, Quitting, and Reinitiation....Pages 87-106 Are Gambling and Smoking Complementary? Direct Tests from Japanese Individual Data....Pages 107-117 Tax Revenue in China and the Incentive to Declare Taxes: The Lottery Receipt Experiment....Pages 119-136 Is the Life Cycle Model or Ono’s Model Most Suitable for the Japanese? Analysis by Time-Series Data and Surveys of Lottery Purchase and Large Prizewinners....Pages 137-155 Conclusions....Pages 157-162 Back Matter....Pages 163-184