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illicit drugs, retail market

Author

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  • Manolis Galenianos

Abstract

Three key features of the retail trade for illicit drugs are documented: moral hazard, repeated interactions and price dispersion. An interpretation of this evidence based on search and informational frictions is presented. Various policy implications of the suggested interpretation are discussed.

Suggested Citation

  • Manolis Galenianos, 2010. "illicit drugs, retail market," The New Palgrave Dictionary of Economics,, Palgrave Macmillan.
    • Handle: RePEc:pal:dofeco:v:4:year:2010:doi:3824
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    More about this item

    Keywords

    drugs; cocaine; heroin; informational friction; narcotics;
    All these keywords.

    JEL classification:

    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
    • K14 - Law and Economics - - Basic Areas of Law - - - Criminal Law
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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