A Search-Theoretic Model of the Retail Market for Illegal Drugs

Rosalie Pacula, N. Persico and Manolis Galenianos
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N. Persico: NYU

No 197, 2007 Meeting Papers from Society for Economic Dynamics

Abstract: We intend to use this model to investigate whether, for instance, increasing police activity makes occasional users more or less likely to consume: on the one hand searching in the market is more dangerous, but on the other the competitive pressure on the sellers increases because of increased search activity, thus reducing prices. Furthermore, we hope to examine how price dispersion affects behavior in the market, over and above the effect of average prices.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:red:sed007:197

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