Regression results from a 30-year panel of the state-level data indicate that changes in alcohol-excise taxes cause a reduction in drinking and lower all-cause mortality in the short run. But those results do not fully capture the long-term mortality effects of a permanent change in drinking...

This study examines the relationship between time discounting, other sources of time preference, and intertemporal choices about smoking. Using a survey fielded for our analysis, we elicit rates of time discount from choices in financial and health domains. We also examine the relationship...

This study investigates causal effects of changes in subjective probabilities of being pulled over and involved in accidents if driving while intoxicated on individuals’ drinking and driving choices. We also examine how hypothetical changes in perceptions of sanction severity affect drunk...

This study quantifies the importance of private information, separates the extent to which the positive correlation between the accident probability and insurance coverage reflects adverse selection and moral hazard, and analyzes market segmentation on objective accident risk. We use data we...