The Price Elasticity of Marijuana Demand
نویسندگان
چکیده
This paper uses crowd-sourced transaction data from a cross-section of the US to examine demand for marijuana. State and regional variations in consumption, price and quality are explored. Price elasticity of demand estimates range between -0.3 and -0.6. Noticeable price differences are found between high, medium, and low quality marijuana, with high quality marijuana, at $13.57 per gram, 144% greater than low quality marijuana, at $5.55 a gram. Significant variation is also found by medical marijuana status and census region, although this variation depends critically on the quality of the marijuana.
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تاریخ انتشار 2013