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|
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