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PAM 4380 february 23

PAM 4380 february 23 - Outline Heroin and meth Drug policy...

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Outline: 2/2 3 /2011 Heroin and meth Drug policy analysis Heroin drought Background on Meth Next: Alcoholic beverages w/ caffeine Homework #3: due Monday, Feb. 28 Prelim #1: Friday, March 3
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Drug Policy Analysis Interested in predicting outcomes in illegal drug markets Q = equilibrium quantity of drugs: relevant for public health Q x P = expenditures (= sales revenues): relevant for externalities related to drug use Predict very different policy scenarios Intensify the ‘war on drugs’ Legalize drugs (Demand-side policies) Need to know structure of drug supply and demand Supply-side policies
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Last time: reviewed evidence about the structure of S Predict how much MC ↓ w/ legalization Predict how much MC ↑ if war intensified Today: analyze natural experiments that shed light on the structure of D When MC shifts, we can “identify” what the D curve
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PAM 4380 february 23 - Outline Heroin and meth Drug policy...

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