Conventional wisdom once held that the demand for addictive substances like cigarettes, alcohol, and drugs was unlike that for any other economic good and, therefore, unresponsive to traditional market forces. Recently, however, researchers from two disparate fields, economics and behavioral...

"This paper investigates whether college students' response to alcohol price and policies differ according to their drinking intensity. Individual level data on drinking behavior, price paid per drink, and college alcohol policies come from the student and administrator components of the 1997...