Price Elasticity of Illegal vs Legal Cannabis: A Behavioral Economic Substitutability Analysis

Background and Aims: The evolving legal status of cannabis in the United States and other countries necessitates the development of evidence-based regulatory policies to minimize risks associated with cannabis misuse. A prominent public health concern is whether legalization will lead to an expansion of the illegal cannabis market, with illegal cannabis acting as an economic substitute. Empirical data on this data on this issue is virtually …