By Kenneth W. Clements, Xueyan Zhao
Do marijuana clients in the reduction of on intake while the cost rises? To what measure is marijuana intake with regards to ingesting and tobacco utilization? What could occur if marijuana have been legalised and taxed within the comparable approach as alcohol and tobacco? Is marijuana priced similarly to different items? Economics and Marijuana bargains with those and different questions via drawing on a wealthy set of knowledge about the intake and pricing of marijuana in Australia, a rustic the place the drug has been decriminalised in a few, yet now not all, states. The ebook applies the industrial method of medicines to examine intake, pricing and the economics of legalising using marijuana. the result's a desirable research of this time-honored, yet little understood illicit drug that gives a lot wanted details and coverage recommendation for quite a lot of readers, together with economists, coverage makers and well-being execs.
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Do marijuana clients reduce on intake whilst the fee rises? To what measure is marijuana intake regarding consuming and tobacco utilization? What could occur if marijuana have been legalised and taxed within the related approach as alcohol and tobacco? Is marijuana priced similarly to different items? Economics and Marijuana offers with those and different questions through drawing on a wealthy set of knowledge about the intake and pricing of marijuana in Australia, a rustic the place the drug has been decriminalised in a few, yet now not all, states.
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Additional info for Economics and Marijuana: Consumption, Pricing and Legalisation
104. Reprinted in M. Friedman, There’s no such thing as a free lunch. LaSalle, IL: Open Court, 1975, pp. 227–9. , ed. (2001). Risky behaviour among youths: an economic analysis. Chicago, IL: The University of Chicago Press. Hall, W. and Pacula, R. L. (2003). Cannabis use and dependence: public health and public policy. Cambridge, UK: Cambridge University Press. MacCoun, R. J. and Reuter, P. (2001). Drug war heresies: learning from other vices, times and places. Cambridge, UK: Cambridge University Press.
We first consider some raw sample statistics from the NDSHS data on cross-drug relationships. 5 present observed sample frequencies and estimated conditional and unconditional probabilities in terms of joint consumption of tobacco, alcohol and marijuana using NDSHS data for 1995, 1998 and 2001. 2 per cent used marijuana only. 4 highlight correlations across the three drugs. 5 shows that the probability of an individual participating in marijuana consumption is much higher if he/she is known to participate in using one of the other two drugs.
Price elasticities are often reported in terms of participation probability Microeconometric evidence on marijuana consumption 17 owing to a lack of data on quantities consumed from survey data. , 2003). In Australia, using data from the NDSHS, several studies have investigated the consumption of marijuana (Cameron and Williams, 2001, Williams, 2004, Zhao and Harris, 2004, Ramful and Zhao, 2009, Ramful, 2008). The demographic characteristics of marijuana users, correlation with the consumption of other recreational drugs, and the effects of decriminalisation policy have been investigated.
Economics and Marijuana: Consumption, Pricing and Legalisation by Kenneth W. Clements, Xueyan Zhao