Economics and Marijuana Consumption, Pricing and Legalisation [Paperback]

A fascinating analysis of a widely used, but little understood illicit drug.Do marijuana users cut back on consumption when the price rises? To what degree is marijuana consumption related to drinking and tobacco usage? This book applies the economic approach to drugs to analyse consumption, pricing and the economics of legalising the use of marijuana.Do marijuana users cut back on consumption when the price rises? To what degree is marijuana consumption related to drinking and tobacco usage? This book applies the economic approach to drugs to analyse consumption, pricing and the economics of legalising the use of marijuana.Do marijuana users cut back on consumption when the price rises? To what degree is marijuana consumption related to drinking and tobacco usage? What would happen if marijuana were legalised and taxed in the same way as alcohol and tobacco? Is marijuana priced in a similar way to other goods? Economics and Marijuana deals with these and other questions by drawing on a rich set of data concerning the consumption and pricing of marijuana in Australia, a country where the drug has been decriminalised in some, but not all, states. The book applies the economic approach to drugs to analyse consumption, pricing and the economics of legalising the use of marijuana. The result is a fascinating analysis of this widely used, but little understood illicit drug that provides much needed information and policy advice for a wide range of readers, including economists, policy makers and health professionals.List of tables; List of figures; Acknowledgements; 1. Introduction; 2. MICROECONOMETRIC EVIDENCE on MARIJUANA CONSUMPTION; 3. THE PRICING OF MARIJUANA; 4. MORE ON THE ECONOMIC DETERMINANTS OF CONSUMPTION; 5. DECRIMINALISING AND LEGALISING MARIJUANA; 6. ARE AUSTRALIANS UNIQUE?; 7. PERSPECTIVES; INDEX.This study applies serious economics to the analysis of alternative public marijuana policies. Notably, it carefully explores the option of taxing marijuana, whils-