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Can Supply Restrictions Lower Price? Violence, Drug Dealing and Positional Advantage
Caulkins, Jonathan P; Reuter, Peter; Taylor, Lowell J - In: The B.E. Journal of Economic Analysis & Policy 5 (2006) 1
Abstract The standard model of markets for illicit drugs predicts that tougher enforcement against sellers will raise prices; yet cocaine and heroin prices have fallen substantially during a period of massive increases in enforcement. We present a model in which the basic mechanisms at work in...
Persistent link: https://www.econbiz.de/10014586801
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Can Supply Restrictions Lower Price? Violence, Drug Dealing and Positional Advantage
Caulkins, Jonathan P; Reuter, Peter; Taylor, Lowell J - In: Contributions in Economic Analysis & Policy 5 (2006) 1
The standard model of markets for illicit drugs predicts that tougher enforcement against sellers will raise prices; yet cocaine and heroin prices have fallen substantially during a period of massive increases in enforcement. We present a model in which the basic mechanisms at work in the...
Persistent link: https://www.econbiz.de/10014587522
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Can Supply Restrictions Lower Price? Violence, Drug Dealing and Positional Advantage
Caulkins, Jonathan; Reuter, Peter; Taylor, Lowell - In: Contributions to Economic Analysis & Policy 5 (2006) 1, pp. 1387-1387
The standard model of markets for illicit drugs predicts that tougher enforcement against sellers will raise prices; yet cocaine and heroin prices have fallen substantially during a period of massive increases in enforcement. We present a model in which the basic mechanisms at work in the...
Persistent link: https://www.econbiz.de/10005086832