One economic theory of addiction, in fact, suggests that the condition can be explained almost completely by the variance in values placed on present and future between addicts and others. Originally proposed by psychiatrist and behavioral economist George Ainslie, this theory suggests that addictive behavior occurs when people repeatedly choose pleasure now without worrying about future pain. And it’s certainly true that addicted people do consistently overvalue current pleasures—and that they do so while continually underrating those that could be better in the future if gratification were
...more
