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The Optimal Price of Heroin: More or Less Prohibition?

F. Neri

Economics Working Papers from School of Economics, University of Wollongong, NSW, Australia

Abstract: Heroin has been a prohibited substance in Australia the early 1950s. Prohibition, combined with a continued demand for the drug, has spawned a profitable black market. This paper presents a framework for evalyating the net welfare effects of heroin consumption under prohibition, a task made mode more difficult because of the co- existence of addicts and casual users.

Keywords: DRUG ADDICTION; PRICES (search for similar items in EconPapers)
JEL-codes: D62 (search for similar items in EconPapers)
Pages: 20 pages
Date: 1996
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