Australians are among the largest consumers of marijuana in the world, and estimates show that their expenditure on marijuana is approximately twice that on wine. In the present paper, the evolution of Australian marijuana prices over the last decade is analysed, and a decline in real terms by...

Australians are among the largest consumers of marijuana in the world, andestimates show that their expenditure on marijuana is about twice that on wine. In thispaper we analyse the evolution of marijuana prices in Australia and show that they havedeclined in real terms by almost 40 percent over...