“… Imagine a TYPICAL DAY during which you smoke FAVORITE BRAND Same income/savings you have now No access to other cigarettes or nicotine products Cigarettes must be consumed ON THAT DAY; cannot save/stockpile for a later date NR; in person Heckman et al (2018) Per cigarette 8 Average market price (0.30) × 0.00, 0.5, 1, 1.5, 2, 5, 10, and 20 0.02, 0.05, 0.10, 0.20, 0.30, 0.40, 0.50, 0.60, 0.70, 0.80, 0.90, 1, 2, 3, 4, 5, 10, 20, and 40 Same income/savings you have now No access to other cigarettes or nicotine products Can smoke without restrictions for the next 24 hours Cigarettes must be consumed AT THIS TIME; cannot save/stockpile for a later date…”