New PDF release: Economics and Marijuana: Consumption, Pricing and

By Kenneth W. Clements, Xueyan Zhao

ISBN-10: 0521884950

ISBN-13: 9780521884952

Do marijuana clients in the reduction of on intake while the fee rises? To what measure is marijuana intake with regards to consuming and tobacco utilization? What might ensue if marijuana have been legalised and taxed within the comparable manner as alcohol and tobacco? Is marijuana priced in a similar fashion to different items? Economics and Marijuana bargains with those and different questions via drawing on a wealthy set of knowledge about the intake and pricing of marijuana in Australia, a rustic the place the drug has been decriminalised in a few, yet now not all, states. The ebook applies the industrial method of medications to examine intake, pricing and the economics of legalising using marijuana. the result's a desirable research of this favourite, yet little understood illicit drug that gives a lot wanted details and coverage suggestion for a variety of readers, together with economists, coverage makers and future health pros.

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Additional info for Economics and Marijuana: Consumption, Pricing and Legalisation

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L. (2003). Cannabis use and dependence: public health and public policy. Cambridge, UK: Cambridge University Press. MacCoun, R. J. and Reuter, P. (2001). Drug war heresies: learning from other vices, times and places. Cambridge, UK: Cambridge University Press. Miron, J. A. and Zwiebel, J. (1995). ” Journal of Economic Perspectives 9, 175–92. Nadelmann, E. (1988). ” The Public Interest 92, 3–31. National Drug Strategy Household Survey (2005). Canberra: Social Data Archives, The Australian National University.

The gateway effect is particularly difficult to estimate without longitudinal dynamic data on the onset and progression of the consumption of various drugs. When such information is available, there is evidence that the apparently strong gateway effects are mostly due to joint effects of unobservable personal characteristics on the use of all illicit drugs rather than to causality (Pudney, 2003, van Ours, 2003). This chapter reports empirical findings on marijuana consumption by Australian individuals using modern econometric techniques and unit-record data from the Australian NDSHS (2005).

Other drugs may also serve similar needs as marijuana does in consumers’ minds. As a result, consumption of marijuana needs to be studied in conjunction with that of other drugs to allow for the effects of both observable and unobservable individual characteristics in the study of joint consumption. The economic relationships across different drugs have been studied in terms of cross-price responses (Cameron and Williams, 2001, Zhao and Harris, 2004). g. Pacula, 1998b). It has been postulated that the use of softer drugs may provide a gateway to the use of harder drugs because of psychological or physiological needs, exposure to harder drug dealers or misinformation on the dangers of harder drugs (Pudney, 2003).

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Economics and Marijuana: Consumption, Pricing and Legalisation by Kenneth W. Clements, Xueyan Zhao

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