The Price Elasticity of Hard Drugs: The Case of Opium in the Dutch East Indies, 1923-1938
Jan van Ours ()
Journal of Political Economy, 1995, vol. 103, issue 2, 261-79
At the beginning of this century, the Dutch government controlled the opium market in the Dutch East Indies--nowadays Indonesia--for several decades. This state monopoly was called the opiumregie. Using information gathered during the opiumregie, this paper estimates price elasticities of opium consumption. It appears that short-term price elasticities of opium use are about -0.7. Long-term price elasticities are about -1.0. Copyright 1995 by University of Chicago Press.
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