The economics of escalation

Escalation is a key characteristic of many consumption behaviors that has not received theoretical attention. This paper aims to propose both a definition and a theoretical treatment of escalation in consumption. We define escalation as a subject’s attempt to obtain “more” or engage in consumption behaviors that are “more intense” on a measurable, quantitative or qualitative, objective or subjective, scale (more difficult ski slopes, stronger drugs, harder sex, better restaurants etc.), even if the subject preferred less intense consumption behaviors in the past. Further, this evolution in behavior also occurs if the budget constraint does not change. We will find endogenous and exogenous theoretical microfoundations for escalation in models of hedonic adaptation, desire for novelty, acquisition of consumption skills, rising aspirations, positional effects, and envy. However, we will also discuss the possibility that the tendency to escalate is a specific innate behavior inherent to human nature. Finally, we will propose a preliminary theoretical formalization of such behavior and indicate the possible implications of taking escalation into adequate consideration. JEL codes: B52, D11, D90, D91, I31

Unsymmetrical bipyrrole derived highly soluble and emissive β-dialkylporphycenes with good singlet oxygen generation ability

Four novel [Formula: see text]-dialkylated porphycenes, [Formula: see text]. 2,12-(DEPoT and DPPoT) and 2,17-(DEPoC and DPPoC) were realized for the first time in porphycene chemistry. Unsymmetrically substituted monoalkylbipyrrole dialdehydes were subjected to McMurry coupling reactions to produce the isomeric [Formula: see text]-dialkylated porphycenes. All these porphycenes exhibit unexpectedly good solubility in common organic solvents. The positional effects of alkyl groups could be controlled through diversification in structure of porphycene cores and, as a result, their photophysical properties. DPPoT presents significant fluorescence accompanied by reasonable singlet oxygen generation ability.