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The New Palgrave Dictionary of Economics pp 6100–6103Cite as

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Illicit Drugs, Retail Market

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Abstract

Three key features of the retail trade for illicit drugs are documented: moral hazard, repeated interactions and price dispersion. An interpretation of this evidence based on search and informational frictions is presented. Various policy implications of the suggested interpretation are discussed.

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Authors and Affiliations

  1. http://link.springer.com/referencework/10.1057/978-1-349-95121-5

    Manolis Galenianos

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  1. Manolis Galenianos
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© 2018 Macmillan Publishers Ltd.

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Galenianos, M. (2018). Illicit Drugs, Retail Market. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_3047

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