| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w22471 |
| 来源ID | Working Paper 22471 |
| Tobacco Regulation and Cost-Benefit Analysis: How Should We Value Foregone Consumer Surplus? | |
| Helen Levy; Edward C. Norton; Jeffrey A. Smith | |
| 发表日期 | 2016-08-01 |
| 出版年 | 2016 |
| 语种 | 英语 |
| 摘要 | Recent tobacco regulations proposed by the Food and Drug Administration have raised a thorny question: how should the cost-benefit analysis accompanying such policies value foregone consumer surplus associated with regulation-induced reductions in smoking? In a model with rational and fully informed consumers, this question is straightforward. There is disagreement, however, about whether consumers are rational and fully informed, and the literature offers little practical guidance about what approach the FDA should use if they are not. In this paper, we outline the history of the FDA’s recent attempts to regulate cigarettes and other tobacco products and how they have valued foregone consumer surplus in cost-benefit analyses. We discuss the evidence on whether consumers are fully informed about the risks of smoking and whether their choices are rational, reviewing the competing arguments made by different authors about these questions. We describe the appropriate approach to welfare analysis under different assumptions about consumer information and rationality. Based on our reading of the theoretical and empirical literatures, we advocate using a behavioral public finance framework borrowed from the literature on environmental regulation. This approach applies standard tools of welfare analysis while allowing consumer behavior to deviate from rationality and full information without requiring specific assumptions about the reason for the deviation. The use of this approach would substantially reduce the confusion currently surrounding welfare analysis of tobacco regulation. |
| 主题 | Microeconomics ; Welfare and Collective Choice ; Health, Education, and Welfare ; Health |
| URL | https://www.nber.org/papers/w22471 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/580145 |
| 推荐引用方式 GB/T 7714 | Helen Levy,Edward C. Norton,Jeffrey A. Smith. Tobacco Regulation and Cost-Benefit Analysis: How Should We Value Foregone Consumer Surplus?. 2016. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w22471.pdf（412KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
