The Optimal Price of Heroin: More or Less Prohibition?
Heroin has been a prohibited substance in Australia the early 1950s. Prohibition, combined with a continued demand for the drug, has spawned a profitable black market. This paper presents a framework for evalyating the net welfare effects of heroin consumption under prohibition, a task made mode more difficult because of the co- existence of addicts and casual users.
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|Date of creation:||1996|
|Date of revision:|
|Contact details of provider:|| Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia|
Phone: +612 4221-3659
Fax: +612 4221-3725
Web page: http://business.uow.edu.au/econ/index.html
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