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