A Search-Theoretic Model of the Retail Market for Illicit Drugs
A Search-Theoretic Model of the Retail Market for Illicit Drugs
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非法药物零售市场的搜索理论模型
DOI：
10.2139/ssrn.996139
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发表时间：
2007
期刊：
影响因子：
--
通讯作者：
R. Pacula
中科院分区：
文献类型：
--
作者：
M. Galenianos;Nicola G. Persico;R. Pacula
建立了非法药品零售市场的搜索理论模型。贸易发生在卖方和买方之间的双边、潜在的长期匹配中。买家在尝试新卖家时会产生搜索成本。道德风险是存在的，因为买家只有在交易完成后才能学会纯洁。该模型对均衡中提供的纯度的分布以及买卖双方关系的持续时间产生了可检验的影响。这些预测与现有数据一致。评估了不同执法策略的有效性，包括一些利用市场上存在的道德风险的新策略。
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 present because buyers learn purity only after a trade is made. The model produces testable implications regarding the distribution of purity offered in equilibrium, and the duration of the relationships between buyers and sellers. These predictions are consistent with available data. The effectiveness of different enforcement strategies is evaluated, including some novel ones which leverage the moral hazard present in the market.