Problem
Behavioral economics . How would Homo economicus (the fully informed, rational, calculating individual) react to an increase in the excise tax on a product or service such as gambling, alcohol, or tobacco? How might the response differ for a person with more complex motivation (concern for others, sensitivity to social pressures, etc.), less perfect information, and/or more inclination to make decisions by habit? What role might tastes and preferences, or addiction, play in each case?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.