Research Seminar by Marco Francesconi (University of Essex)
Speaker: Marco Francesconi (University of Essex)
Theme: "The Cost of Binge Drinking"
Abstract: We estimate the effect of binge drinking on accident and emergency attendances, road accidents, arrests and the number of police officers on duty using a variety of unique data from Britain and a two-sample minimum distance estimation procedure. Our estimates, which reveal sizeable effects of bingeing on all outcomes, are then used to monetize the short-term externalities of binge drinking. We find that these externalities are on average £4.9 billion per year ($7 billion), about £80 for each man, woman and child living in the UK. The price that internailizes this externality is equivalent to an additional 9p per alcoholic unit, implying a 20% increase with respect to the current average price.
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