Skip to main content
Journal cover image

Do smokers value their health and longevity less?

Publication ,  Journal Article
Khwaja, A; Sloan, F; Wang, Y
Published in: Journal of Law and Economics
February 1, 2009

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.

Duke Scholars

Altmetric Attention Stats
Dimensions Citation Stats

Published In

Journal of Law and Economics

DOI

ISSN

0022-2186

Publication Date

February 1, 2009

Volume

52

Issue

1

Start / End Page

171 / 196

Related Subject Headings

  • Economics
  • 3801 Applied economics
  • 1801 Law
  • 1402 Applied Economics
 

Citation

APA
Chicago
ICMJE
MLA
NLM
Khwaja, A., Sloan, F., & Wang, Y. (2009). Do smokers value their health and longevity less? Journal of Law and Economics, 52(1), 171–196. https://doi.org/10.1086/589655
Khwaja, A., F. Sloan, and Y. Wang. “Do smokers value their health and longevity less?Journal of Law and Economics 52, no. 1 (February 1, 2009): 171–96. https://doi.org/10.1086/589655.
Khwaja A, Sloan F, Wang Y. Do smokers value their health and longevity less? Journal of Law and Economics. 2009 Feb 1;52(1):171–96.
Khwaja, A., et al. “Do smokers value their health and longevity less?Journal of Law and Economics, vol. 52, no. 1, Feb. 2009, pp. 171–96. Scopus, doi:10.1086/589655.
Khwaja A, Sloan F, Wang Y. Do smokers value their health and longevity less? Journal of Law and Economics. 2009 Feb 1;52(1):171–196.
Journal cover image

Published In

Journal of Law and Economics

DOI

ISSN

0022-2186

Publication Date

February 1, 2009

Volume

52

Issue

1

Start / End Page

171 / 196

Related Subject Headings

  • Economics
  • 3801 Applied economics
  • 1801 Law
  • 1402 Applied Economics