Economics and Marijuana

Kenneth W. Clements is Professor of Economics at the University of Western Australia Business School. Xueyan Zhao is Associate Professor of Econometrics in the Department of Econometrics and Business Statistics at Monash University, Australia.

• List of tables; List of figures; Acknowledgements; 1. Introduction; 2. MICROECONOMETRIC EVIDENCE on MARIJUANA CONSUMPTION; 3. THE PRICING OF MARIJUANA; 4. MORE ON THE ECONOMIC DETERMINANTS OF CONSUMPTION; 5. DECRIMINALISING AND LEGALISING MARIJUANA; 6. ARE AUSTRALIANS UNIQUE?; 7. PERSPECTIVES; INDEX.

'Ken Clements and Xueyan Zhao do a marvellous job in analysing and explaining the many factors that affect the demand for marijuana, the way it is priced, and the issues arising from legalising this illicit drug. If you were not convinced that economists can improve our understanding of the social problems arising from the use of marijuana, you will be convinced after reading this book.' Paul De Grauwe, Katholieke Universiteit Leuven, Belgium