An Evaluation of a Recent Attempt to Assess the Social Benefits of Cigarette Smoking

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Abstract
This paper critically evaluates the two most recent attempts to analyse and estimate the cost-benefit of smoking in South Africa. These papers, one by Reekie and Wang (1992) which argues for the application of a variant of expected utility theory, and the other by Reekie (1994) which attempts to quantify consumer surplus in South Africa, conclude that the net benefit of smoking for the society is positive. The research subject merits much attention, particularly because of its socio-economic relevance. This is clearly reflected in the current widespread debate both within and outside Parliament. Our paper criticises both the theoretical approach and the empirical research of the aforementioned studies. It calls into question the validity of their results, and hence finds them inadequate as the foundation for policy making. Instead it argues that the property rights approach is a superior paradigm for policy making purposes.

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