) Causes and consequences of population characteristics, in blog form
Wednesday, August 6, 2014
Cost-benefit analysis when there's addiction
Times reports on a kerfuffle
over FDA cost-benefit analysis regarding smoking, in which
a number of prominent economists have weighed in
. A big bottom line for them: "
Particularly when ... addiction occurs prior to the age of majority ...
we find it inappropriate to measure the area under a demand curve to define welfare."