Economic Analysis of Substance Use and Abuse. The Experience of Developed Countries and Lessons for Developing Countries - Michael Grossman;Chee-Ruey Hsieh

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.

Economic Analysis of Substance Use and Abuse will be required reading for scholars of economic development and health economics.