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The economics of substance use and abuse: the role of price

In: The Economic Analysis of Substance Use and Abuse

Author

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  • Michael Grossman

Abstract

This book extends the frontiers of research on the economics of substance use and abuse in a variety of extremely significant ways. It focuses on the determinants and consequences of the consumption of cigarettes, alcohol, betel quid, and illicit drugs in the United States, Great Britain and Taiwan. The authors use a variety of empirical techniques to examine the roles of price, advertising, risk perception, time preference and forward-looking behaviour in consumption decisions and the effects of these decisions on labour market outcomes, unintended pregnancies and criminal violence.

Suggested Citation

  • Michael Grossman, 2001. "The economics of substance use and abuse: the role of price," Chapters, in: Michael Grossman & Chee-Ruey Hsieh (ed.), The Economic Analysis of Substance Use and Abuse, chapter 1, pages 1-30, Edward Elgar Publishing.
    • Handle: RePEc:elg:eechap:2347_1
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