A Search-Theoretic Model of the Retail Market for Illegal Drugs
We intend to use this model to investigate whether, for instance, increasing police activity makes occasional users more or less likely to consume: on the one hand searching in the market is more dangerous, but on the other the competitive pressure on the sellers increases because of increased search activity, thus reducing prices. Furthermore, we hope to examine how price dispersion affects behavior in the market, over and above the effect of average prices.
Year of publication: |
2007
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Authors: | Pacula, R. ; Persico, N. ; Galenianos, M. |
Institutions: | Society for Economic Dynamics - SED |
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