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date: 19 April 2021

Abstract and Keywords

This article attempts to provide an overview of the response of economic research on unhealthy substances to these challenges and opportunities. It devotes considerable attention to new econometric methodologies that have been used to assess the causal determinants of dangerous behavior. It introduces models, which economists use to understand consumers' use of unhealthy substances, and discusses the economic approach to substance use policy. It provides an overview of some of the interesting questions being asked in modern empirical research. Numerous reviews for policy relevant findings such as the price-elasticity of the demand for cigarettes and alcohol are discussed. This article complements such reviews and offers a critical perspective on the research challenges behind empirical estimates of even apparently simple economic concepts.

Keywords: economic research, methodologies, behavior, price-elasticity, empirical estimates

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