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Auteur M. GALENIANOS |
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Bulletin : Périodique
NBER Working Papers, n°14980 - May 2009 - A search-theoretic model of the retail market for illicit drugs
M. GALENIANOS ; R. L. PACULA ; N. PERSICO | 2009A search-theoretic model of the retail market for illegal drugs is developed. Trade occurs in bilateral, potentially long-lived matches between sellers and buyers. Buyers incur search costs when experimenting with a new seller. Moral hazard is p[...]Article : Périodique
A search-theoretic model of the retail market for illegal drugs is developed. Trade occurs in bilateral, potentially long-lived matches between sellers and buyers. Buyers incur search costs when experimenting with a new seller. Moral hazard is p[...]Article : Périodique
We estimate a model of illicit drugs markets using data on purchases of crack cocaine. Buyers are searching for high-quality drugs, but they determine drugs' quality (i.e., their purity) only after consuming them. Hence, sellers can rip off firs[...]