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- W1977006866 abstract "In this paper, we extend the optimal law enforcement model to the illegal trade and consumption of narcotics. Three sources of risk in the narcotic business are considered: (1) The consumer can be detected while consuming narcotics; (2) the consumer and the retailer can be detected at the time of sale to the consumer; and (3) the retailer and the producer can be detected at the time of sale to the retailer. We derive the two levels of market equilibrium and a set of comparative static results. The welfare analysis is used to comment on the Schengen Agreements and the implications for the market of narcotics." @default.
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- W1977006866 date "1997-12-01" @default.
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- W1977006866 title "Optimal law enforcement and the economics of the drug market: Some comments on the Schengen Agreements" @default.
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- W1977006866 doi "https://doi.org/10.1016/s0144-8188(97)00034-3" @default.
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