By Frank A. Sloan
What does a pack of cigarettes expense a smoker, the smoker's kinfolk, and society? This longitudinal learn at the inner most and social bills of smoking calculates that the price of smoking to a 24-year-old girl smoker is $86,000 over a life-time; for a 24-year-old male smoker the fee is $183,000. the full social price of smoking over a lifetime—including either inner most charges to the smoker and prices imposed on others (including second-hand smoke and prices of Medicare, Medicaid, and Social Security)—comes to $106,000 for a lady and $220,00 for a guy. the price according to pack over a life of smoking: nearly $40.00. the 1st learn to quantify the price of smoking during this approach, or in such intensity, this obtainable ebook not just provides a weapon to the arsenal of antismoking messages but in addition presents a framework for evaluation that may be utilized to different overall healthiness behaviors. The findings at the results of smoking on Medicare and Medicaid may be astonishing and maybe debatable, for the authors estimate the prices to be a lot less than the wear and tear awards being paid to forty six states end result of the 1998 grasp cost contract.
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Extra resources for The Price of Smoking
With this information, we are able to produce new estimates of the mortality and disability cost a smoking spouse imposes on his or her partner. For smoking men, such cost is about $30,000. For smoking women, the cost is about half as large. In this study, we provide no new information about the effect of environmental tobacco smoke on children. For this, we rely entirely on the literature review presented in chapter 3. Chapter 11, our concluding chapter, provides an opportunity for a net assessment.
Although we obtained better data for studying some important impacts of smoking, such as on public and private pensions and on life insurance, as well as impacts of smoking on mortality and morbidity of nonsmoking spouses of smokers, we could not analyze every possible impact of smoking. Thus, examining the other studies is worthwhile, not only for the big picture they reveal about smoking-attributable cost, but also for some of the components of such cost as well, especially those we did not measure.
For this reason, allocations based on WTP may give disproportionate weight to the preferences of persons with high incomes. But as Pauly (1995) has noted, it is possible to adjust for this pattern statistically. Some experts prefer to derive all values from actual decisions rather than statements of value elicited from surveys. However, for certain phenomena, such as various types of disability, especially for nonworking persons, such measures are simply unavailable. To not use values from WTP would be to commit a worse error, that is, implicitly assigning a value of zero dollars to outcomes that people plausibly value.