Cigarette advertising regulation: A meta-analysis

This paper presents a synthesis of cigarette advertising elasticities derived from econometric studies for the US and other countries. Summaries are presented using fixed- and random-effects weighted means and weighted regressions. The regressions account for heteroscedasticity, non-homogeneity, independence, and random effects. After accounting for random effects, the meta-analysis indicates that advertising elasticities are very small and not statistically significant regardless of the time period. The paper also reviews 50 years of regulation of cigarettes by the Federal Trade Commission and conducts a meta-analysis of four important regulatory events: the 1953 health scare; 1964 Surgeon General's Report; 1967-1970 Fairness Doctrine; and the 1971 ban of broadcast advertising. The effect of the 1971 broadcast ban, which directly affected advertising, is not statistically significant.