Risks and prices
Subtitle: the role of user sanctions in marijuana markets
By: Rosalie Liccardo Pacula ... [et al.].
Contributors: Pacula, Rosalie Liccardo, 1968-; National Bureau of Economic Research.
Series: NBER working paper series -- working paper 13415; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13415.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "User sanctions influence the legal risk for participants in illegal drug markets.  A change in user sanctions may change retail drug prices, depending on how it changes the legal risk to users, how it changes the legal risk to dealers, and the slope of the supply curve.  Using a novel dataset with rich transaction-level information, this paper evaluates the impact of recent changes in user sanctions for marijuana on marijuana prices.  The results suggest that lower legal risks for users are associated with higher marijuana prices in the short-run, which ceteris paribus, implies higher profits for drug dealers.  Additionally, the findings have important implications for thinking about the slope of the supply curve and interpreting previous research on the effect of drug laws on demand for marijuana"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 9/21/2007.

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