Drug Markets: A Classroom Experiment

Gwendolyn Alexander Tedeschi

The American Economist, 2007, vol. 51, issue 1, 75-84

Abstract: Experiments are becoming increasingly popular in economics principles classes as a way to gain student interest in a rather abstract subject. This experiment examines the market for illegal drugs, such as marijuana, and the effects of loosening government intervention on it. While the media tends to focus on the ‘normative’ aspects of drug legislation, students explore the ‘positive’ effects that such legislation would produce. This paper contains detailed instructions on the experiment, including a discussion of decriminalization and legalization, and ends with empirical research on the drug market, a discussion of sin taxes, and the economic costs associated with drug use.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:sae:amerec:v:51:y:2007:i:1:p:75-84

DOI: 10.1177/056943450705100107

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