Do smokers value their health and longevity less?

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Do smokers value their health and longevity less?

Show simple item record Khwaja, A. Sloan, F. Wang, Yang 2010-03-11T14:58:15Z 2010-03-11T14:58:15Z 2009
dc.identifier.citation Khwaja, A., F. Sloan, and Y. Wang. (2009.) "Do smokers value their health and longevity less?" Journal of Law and Economics 52 (1): 171-96. en_US
dc.description.abstract One reason why individuals consume harmful addictive goods is that the “full” price of such goods is low. Using data on adults specifically collected for this study, we examine the internal cost of one such good by estimating the value that smokers and nonsmokers place on loss of health and longevity from a major lung disease, chronic obstructive pulmonary disease (COPD). Differences in the nonpecuniary internal cost of getting COPD between current smokers and people who have never smoked range from $80,000 to $260,000, implying that one reason people continue to smoke is that they face a lower full price of smoking. Our results suggest that although taxation and regulation of cigarettes may be justified for externality reasons, the principle of consumer sovereignty implies that the case is much weaker for interventions based on helping smokers internalize costs they impose on themselves. en_US
dc.publisher Journal of Law and Economics en_US
dc.title Do smokers value their health and longevity less? en_US
dc.type Article en_US
dc.identifier.doi 10.1086/589655

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