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How Good a Deal Was the Tobacco Settlement?: Assessing Payments to Massachusetts

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  • David M. Cutler
  • Arnold M. Epstein
  • Richard G. Frank
  • Raymond Hartman
  • Charles King III
  • Joseph P. Newhouse
  • Meredith B. Rosenthal
  • Elizabeth Richardson Vigdor

Abstract

We estimate the increment in Massachusetts Medicaid program costs attributable to smoking from December 20, 1991, to 1998. We describe how our methods improve upon earlier estimates of analogous costs at the national level. Current costs to the Massachusetts Medicaid program approximate the payments to Massachusetts under the tobacco settlement of November 1998. Whether these payments are viewed as appropriate compensation for Medicaid costs over time depends upon the rate of increase in future health care costs, the rate of decline in smoking, the proportion of smoking that should be attributed to the actions of the tobacco companies and the liklihood that state would have prevailed at trial. The costs to the Medicaid program are dwarfed by the internal costs to smokers themselves.

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Bibliographic Info

Paper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 7747.

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Date of creation: Jun 2000
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Publication status: published as Cutler, David M, et al, 2000. " How Good a Deal Was the Tobacco Settlement? Assessing Payments to Massachusetts," Journal of Risk and Uncertainty, Springer, vol. 21(2-3), pages 235-61, November.
Handle: RePEc:nbr:nberwo:7747

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  1. John B. Shoven & Jeffrey O. Sundberg & John P. Bunker, 1989. "The Social Security Cost of Smoking," NBER Chapters, in: The Economics of Aging, pages 231-254 National Bureau of Economic Research, Inc.
  2. David Cutler & Mark McClellan & Joseph Newhouse, 1998. "The Costs and Benefits of Intensive Treatment for Cardiovascular Disease," NBER Working Papers 6514, National Bureau of Economic Research, Inc.
  3. Gary S. Becker & Michael Grossman & Kevin M. Murphy, 1990. "An Empirical Analysis of Cigarette Addiction," NBER Working Papers 3322, National Bureau of Economic Research, Inc.
  4. W. Kip Viscusi, 1994. "Cigarette Taxation and the Social Consequences of Smoking," NBER Working Papers 4891, National Bureau of Economic Research, Inc.
  5. Becker, Gary S & Grossman, Michael & Murphy, Kevin M, 1991. "Rational Addiction and the Effect of Price on Consumption," American Economic Review, American Economic Association, American Economic Association, vol. 81(2), pages 237-41, May.
  6. Duan, Naihua, et al, 1983. "A Comparison of Alternative Models for the Demand for Medical Care," Journal of Business & Economic Statistics, American Statistical Association, American Statistical Association, vol. 1(2), pages 115-26, April.
  7. Joseph P. Newhouse, 1992. "Medical Care Costs: How Much Welfare Loss?," Journal of Economic Perspectives, American Economic Association, American Economic Association, vol. 6(3), pages 3-21, Summer.
  8. David M. Cutler & Jonathan Gruber & Raymond S. Hartman & Mary Beth Landrum & Joseph P. Newhouse & Meredith B. Rosenthal, 2002. "The Economic impacts of the tobacco settlement," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 21(1), pages 1-19.
  9. Gary S. Becker & Kevin M. Murphy, 1986. "A Theory of Rational Addiction," University of Chicago - George G. Stigler Center for Study of Economy and State, Chicago - Center for Study of Economy and State 41, Chicago - Center for Study of Economy and State.
  10. Viscusi, W Kip, 1999. "The Governmental Composition of the Insurance Costs of Smoking," Journal of Law and Economics, University of Chicago Press, University of Chicago Press, vol. 42(2), pages 575-609, October.
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Cited by:
  1. Viscusi, W. Kip & Hersch, Joni, 2008. "The mortality cost to smokers," Journal of Health Economics, Elsevier, Elsevier, vol. 27(4), pages 943-958, July.
  2. W. Kip Viscusi & Joni Hersch, 2009. "Tobacco Regulation through Litigation: The Master Settlement Agreement," NBER Working Papers 15422, National Bureau of Economic Research, Inc.

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