Pacula, Rosalie Liccardo; Kilmer, Beau; Grossman, Michael; … - In: The B.E. Journal of Economic Analysis & Policy 10 (2010) 1
Abstract User sanctions influence the legal risk for consumers who engage in illegal drug markets. If a reduction in user sanctions leads to an increase in consumption, drug prices will rise unless supply is perfectly elastic. In equilibrium, a change in consumption associated with decreasing...