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KMID : 1170320140200020049
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Korean Journal of Health Economics and Policy
2014 Volume.20 No. 2 p.49 ~ p.65
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Does Quitting Smoking Improve Smokers’ Welfare?
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Hong Seong-Hoon
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Abstract
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This paper examines the impact of quitting smoking on smokers`` welfare. The results of employing the two-step estimation method showed that the subjective well-being of predicted smokers who have never attempted to quit was higher than that of those who have attempted to quit. However, the subjective well-being of those predicted to successfully quit was higher than that of remaining predicted smokers. These results imply that smokers`` welfare initially decreases as they attempt to quit but can eventually be recovered once they succeed in quitting. It appears that smokers who never attempt to quit are following rational rather than time inconsistent behavior. Thus, stronger cigarette control policies such as higher cigarette taxes will reduce their welfare. Our results also imply that regardless of whether smokers follow rational or time inconsistent behavior, the subjective well-being of smokers who have failed to quit will ultimately increase once they succeed in the end.
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KEYWORD
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Smoking, Quitting Smoking, Welfare, Life Satisfaction, jTwo-step Estimation
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