In this paper we examine the relationship between marijuana use and human capital formation by examining performance on standardized tests among a nationally representative sample of youths from the National Education Longitudinal Survey. We find that much of the negative association between...

Recent studies have shown that efforts to curb alcohol use by increasing the price of alcohol and limiting youth's access have succeeded, but they may have had the unintended consequencce of increasing marijuana use. This possibility is troubling in light of a recent government report that shows...

Nationally representative studies consistently report significant gender and racial differences in youth smoking rates, although little research has been done to explain why. In this paper we examine one possible source for this variation: differences in youth responsiveness to changes in price...

This research analyzes the contemporaneous and intertemporal relationship between the demands for alcohol and marijuana by youths and young adults. A general theory of multi-commodity habit formation is developed and tested using data from the 1983-1984 waves of the National Longitudinal Survey...