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The Mortality Cost to Smokers

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Author Info
W. Kip Viscusi
Joni Hersch

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Abstract

This article estimates the mortality cost of smoking based on the first labor market estimates of the value of statistical life by smoking status. Using these values in conjunction with the increase in the mortality risk over the life cycle due to smoking, the value of statistical life by age and gender, and information on the number of packs smoked over the life cycle, produces an estimate of the private mortality cost of smoking of $222 per pack for men and $94 per pack for women in 2006 dollars, based on a 3 percent discount rate. At discount rates of 15 percent or more, the cost decreases to under $25 per pack.

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Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 13599.

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Date of creation: Nov 2007
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Handle: RePEc:nbr:nberwo:13599

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Find related papers by JEL classification:
I12 - Health, Education, and Welfare - - Health - - - Health Production
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
J17 - Labor and Demographic Economics - - Demographic Economics - - - Value of Life; Foregone Income

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  1. W. Viscusi, 2008. "How to value a life," Journal of Economics and Finance, Springer, vol. 32(4), pages 311-323, October. [Downloadable!] (restricted)
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This page was last updated on 2009-11-25.

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