Suchergebnisse

Marijuana Legalization: What Everyone Needs to Know? provides readers with a non-partisan primer covering everything from the risks and benefits of using marijuana to what is happening with marijuana laws around the world. This book serves as the price of admission for any serious discussion about marijuana legalization

AbstractInternational prohibitions create asymmetries; production and transshipment concentrate in relatively few places that bear the bulk of the negative externalities created by the illegal trade. These externalities fuel calls for altering the United Nations treaty framework and for individual nations to legalize outside of the framework. Analyses of the pros and cons of legalization usually adopt the perspective of a single nation acting in isolation. However, one nation's legalization alters incentives for others to act, and not always in obvious ways. So the proper perspective is that of a dynamic game.The primary contribution of this paper is to make the case for analyzing legalization as a strategic game, but it also offers preliminary analysis for the case of cocaine. Tentative conclusions include:

This article discusses displacement of drug markets, that is, the phenomenon of markets adapting to police enforcement rather than being eliminated by it. The extent to which displacement occurs and the forms that it takes must ultimately be resolved by empirical observation, but it is important to clarify some issues surrounding displacement now so that these questions are framed properly before the data is collected. This article argues that markets displace in method of operation as well as in physical location; that different forms of physical displacement can be distinguished; that the extent to which displacement occurs is a continuous and not a binary variable; and that even when there is "complete" displacement, interventions may still yield benefits to society.