In Becker and Murphy’s (1988) “rational addiction” model, smokers are perfectly aware of the potential for smoking to cause addiction, and they take this into account when deciding whether or not to smoke. Consider the emergence of ecigarettes, a new technology that makes quitting smoking much easier and less costly. If Becker and Murphy’s model is correct, what effect would you expect the invention of e-cigarettes to have on tobacco cigarette smoking rates? How would your answer be different for younger and older cohorts?