When harassed users adopt new ways of transaction, supply changes in predictable ways. This linkage between demand and supply can explain a number of puzzling consequences of the decriminalization of marijuana and the war on heroin and cocaine. Copyright 1993 by University of Chicago Press.

Expected-utility theory can explain why people who are terminally ill often feel a surge in wellbeing and hope to live longer when they have the option of legally ending their lives. Behavioral theories, however, may better answer larger questions such as why so few terminally-ill people bother...

The typical living will is an awfully imperfect instrument for doing what it is supposed to do. This paper is one economist's attempt to make sense of living will. The foray takes one deep into the domain of mainstream economics. The paper concludes that, despite its shortcomings, living will...