00:01
So this is a very basic principle, right? the whole idea is in five years.
00:05
The answer in five years is because longer horizon, elasticity's are bigger.
00:12
And i want to try to explain that, but that's the answer.
00:16
If all you're here for is the answer.
00:19
But it doesn't ask for why, right? the basic idea is that more time is giving more options to change behavior.
00:33
Right? that's the idea.
00:37
So in one year, most people are addicted.
00:42
It's, and because they're addicted, they keep smoking, right? the tax doesn't really do anything to dissuade them...