Philip J. Cook

Bio: Philip J. Cook is an academic researcher from Duke University. The author has contributed to research in topics: Poison control & Crime control. The author has an hindex of 58, co-authored 255 publications receiving 11967 citations. Previous affiliations of Philip J. Cook include Centers for Disease Control and Prevention & Michigan State University.

The Winner-Take-All Society

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The Winner-Take-All Society: Why the Few at the Top Get So Much More Than the Rest of Us

Abstract: Why does the top one per cent of the population capture such a disproportionate amount of the wealth? Why do top athletes win dozens of sponsorship deals, yet competitors who finish just moments behind struggle to attract a single deal? Why does one product become a runaway success, while others flounder and fail? The answer is the rise of 'winner-take-all' markets, in which small differences in performance lead to huge differences in reward More relevant today than ever before, this fascinating book shows how in business, as in sport, thousands are competing for only a handful of top prizes As Robert Frank and Philip J Cook reveal, this relentless emphasis on coming out on top has shaped our society and how we define success in troubling ways, creating growing income inequality and an enormous misallocation of talent, as more and more gifted people seek the big bucks and limelight of lucrative yet non-essential careers while vital professions scramble to attract staff But there are measures we can take to create a more equitable and more prosperous future, and "The Winner-Take-All Society" shows the way

Selling Hope: State Lotteries in America

Abstract: Preface to the 1991 Edition PART I: The Setting A New Role for the States Magnitudes The Fall and Rise of Lotteries PART II: The Games and the Players The Games People Play Why (and How) They Play The Demand for Lottery Products Winners and Losers PART III: The Government's Business State Politics and the Lottery Bandwagon The Suppliers The Sales Pitch PART IV: Lotteries as Public Policy A "Painless Tax"? Choices Appendix: Supplementary Tables Notes References Index

The Demand for Insurance and Protection: The Case of Irreplaceable Commodities

Abstract: Insurance and protection against various kinds of losses are both valuable activities provided to a large and perhaps increasing extent by the public sector.

The Effect of Liquor Taxes on Heavy Drinking

Abstract: In this article we present the strongest evidence to date that chronic heavy drinkers' consumption is responsive to changes in the price of liquor. We estimate that an increase in the liquor excise tax by one dollar (1967 prices) per proof gallon reduces the liver cirrhosis mortality rate by 5.4% in the short run and by perhaps twice that amount in the long run. (The liver cirrhosis mortality rate is a reliable proxy for the prevalence of chronic excess consumption.) Our estimate is based on an analysis of covariance of annual state-level data, for a 16-year panel of 30 states, with state excise taxes and per capita income as the covariates. Of course, our estimate is not sufficient to determine whether an increase in the liquor tax is worthwhile, much less to determine an "optimal" tax. It is, however, an important datum for making these determinations.

Risk and protective factors for alcohol and other drug problems in adolescence and early adulthood: Implications for substance abuse prevention.

Abstract: The authors suggest that the most promising route to effective strategies for the prevention of adolescent alcohol and other drug problems is through a risk-focused approach. This approach requires the identification of risk factors for drug abuse, identification of methods by which risk factors have been effectively addressed, and application of these methods to appropriate high-risk and general population samples in controlled studies. The authors review risk and protective factors for drug abuse, assess a number of approaches for drug abuse prevention potential with high-risk groups, and make recommendations for research and practice.

A Treatise on the Family

Abstract: A Treatise on the Family. G. S. Becker. Cambridge, MA: Harvard University Press. 1981. Gary Becker is one of the most famous and influential economists of the second half of the 20th century, a fervent contributor to and expounder of the University of Chicago free-market philosophy, and winner of the 1992 Nobel Prize in economics. Although any book with the word "treatise" in its title is clearly intended to have an impact, one coming from someone as brilliant and controversial as Becker certainly had such a lofty goal. It has received many article-length reviews in several disciplines (Ben-Porath, 1982; Bergmann, 1995; Foster, 1993; Hannan, 1982), which is one measure of its scholarly importance, and yet its impact is, I think, less than it may have initially appeared, especially for scholars with substantive interests in the family. This book is, its title notwithstanding, more about economics and the economic approach to behavior than about the family. In the first sentence of the preface, Becker writes "In this book, I develop an economic or rational choice approach to the family." Lest anyone accuse him of focusing on traditional (i.e., material) economics topics, such as family income, poverty, and labor supply, he immediately emphasizes that those topics are not his focus. "My intent is more ambitious: to analyze marriage, births, divorce, division of labor in households, prestige, and other non-material behavior with the tools and framework developed for material behavior." Indeed, the book includes chapters on many of these issues. One chapter examines the principles of the efficient division of labor in households, three analyze marriage and divorce, three analyze various child-related issues (fertility and intergenerational mobility), and others focus on broader family issues, such as intrafamily resource allocation. His analysis is not, he believes, constrained by time or place. His intention is "to present a comprehensive analysis that is applicable, at least in part, to families in the past as well as the present, in primitive as well as modern societies, and in Eastern as well as Western cultures." His tone is profoundly conservative and utterly skeptical of any constructive role for government programs. There is a clear sense of how much better things were in the old days of a genderbased division of labor and low market-work rates for married women. Indeed, Becker is ready and able to show in Chapter 2 that such a state of affairs was efficient and induced not by market or societal discrimination (although he allows that it might exist) but by small underlying household productivity differences that arise primarily from what he refers to as "complementarities" between caring for young children while carrying another to term. Most family scholars would probably find that an unconvincingly simple explanation for a profound and complex phenomenon. What, then, is the salient contribution of Treatise on the Family? It is not literally the idea that economics could be applied to the nonmarket sector and to family life because Becker had already established that with considerable success and influence. At its core, microeconomics is simple, characterized by a belief in the importance of prices and markets, the role of self-interested or rational behavior, and, somewhat less centrally, the stability of preferences. It was Becker's singular and invaluable contribution to appreciate that the behaviors potentially amenable to the economic approach were not limited to phenomenon with explicit monetary prices and formal markets. Indeed, during the late 1950s and throughout the 1960s, he did undeniably important and pioneering work extending the domain of economics to such topics as labor market discrimination, fertility, crime, human capital, household production, and the allocation of time. Nor is Becker's contribution the detailed analyses themselves. Many of them are, frankly, odd, idiosyncratic, and off-putting. …

Thinking fast and slow.

Abstract: In 1974 an article appeared in Science magazine with the dry-sounding title “Judgment Under Uncertainty: Heuristics and Biases” by a pair of psychologists who were not well known outside their discipline of decision theory. In it Amos Tversky and Daniel Kahneman introduced the world to Prospect Theory, which mapped out how humans actually behave when faced with decisions about gains and losses, in contrast to how economists assumed that people behave. Prospect Theory turned Economics on its head by demonstrating through a series of ingenious experiments that people are much more concerned with losses than they are with gains, and that framing a choice from one perspective or the other will result in decisions that are exactly the opposite of each other, even if the outcomes are monetarily the same. Prospect Theory led cognitive psychology in a new direction that began to uncover other human biases in thinking that are probably not learned but are part of our brain’s wiring.

Heuristics and Biases: The Psychology of Intuitive Judgment

Abstract: A review is presented of the book “Heuristics and Biases: The Psychology of Intuitive Judgment,” edited by Thomas Gilovich, Dale Griffin, and Daniel Kahneman.

A Theory of Rational Addiction

Abstract: We develop a theory of rational addiction in which rationality means a consistent plan to maximize utility over time. Strong addiction to a good requires a big effect of past consumption of the good on current consumption. Such powerful complementarities cause some steady states to be unstable. They are an important part of our analysis because even small deviations from the consumption at an unstable steady state can lead to large cumulative rises over time in addictive consumption or to rapid falls in consumption to abstention. Our theory also implies that "cold turkey" is used to end strong addictions, that addicts often go on binges, that addicts respond more to permanent than to temporary changes in prices of addictive goods, and that anxiety and tensions can precipitate an addiction.