Rational addiction model
This theory is so closely associated with Becker and Murphy that our authors refer to it as the "Becker and Murphy model." The more influential the theory and more closely associated with its creator, the more likely are subsequent writers to refer to it as the "[scholar's name] model."
Unlike the habit formation and learning-by-consumption models, Castiglione and Infante argue that the rational addiction model assumes present consumption is determined by both past consumption experiences and expectations of future consumption experiences.
Castiglione and Infante suggest that this model promises more explanatory power than either existing models or the alternatives reviewed above.