Liquid Assets? the Short-Run Liabilities of Binge Drinking
利用英格兰数据估计狂饮对交通事故、急诊就诊和逮捕的影响，发现每次狂饮增加18.6%交通事故、6.6%受伤急诊和71%逮捕，并计算了外部性成本。
Abstract We estimate the effect of binge drinking on road accidents, accident and emergency (A&E) attendances and arrests using a variety of unique English data and a two-sample instrumental variables estimation procedure. Drinking $10+$ units of alcohol in a single session increases road accidents by 18.6%, injury-related A&E attendances by 6.6% and arrests by 71%. The marginal increase from eight to $10+$ alcoholic units implies nearly 6,100 extra road accidents every year, 63,000 additional A&E attendances and 100,000 additional arrests. The externality per mile driven by a binge drinker is about five pence and the punishment that internalises this externality is equivalent to a fine of £22,800 per drunk driving arrest.