We model consumer choices for cannabis in a risky environment and determine the supply of cannabis under prohibition … and legalization. While introducing a legal market reduces the profits of illegal providers, it increases cannabis … proposed policy mix can control the increase in cannabis consumption post-legalization and throttle the illegal market. The …

This paper investigates how legal cannabis access affects student performance. Identification comes from an exceptional … Maastricht University before and during the partial cannabis prohibition. We find that the academic performance of students who … are no longer legally permitted to buy cannabis increases substantially. Grade improvements are driven by younger students …

evidence on punishment preferences, in which subjects reveal a heterogeneous preference for punishing wrongdoers, our model … identifies circumstances in which “punitive” individuals (with stronger-than-average punishment preferences) will self …-select into law enforcement jobs that offer the opportunity to punish (or facilitate the punishment of) wrongdoers. Such “punitive …

probability and the severity of punishment with reference to planned criminal activities. There are, however, also unplanned …

of punishment. This paper presents the first controlled experiment to study a third important factor that has been mainly … will be punished is dissolved and the timing at which the punishment is actually imposed, as well as the combination …: either no delay (immediate resolution and immediate punishment) or maximum delay (both resolution and punishment as much as …