Altered State?: Assessing How Marijuana Legalization in California Could Influence Marijuana Consumption and Public Budgets (Occasional Papers)

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9780833050342: Altered State?: Assessing How Marijuana Legalization in California Could Influence Marijuana Consumption and Public Budgets (Occasional Papers)

Legalizing marijuana in California would lead to a major decline in the pretax price, but the price for consumers will depend heavily on taxes, the regulatory regime structure, and how taxes and regulations are enforced. The lower price and nonprice effects will increase consumption, but it is unclear by how much. There is much uncertainty about the effect on public budgets; even minor changes in assumptions lead to major differences in outcomes.

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About the Author:

Rosalie Pacula is an Associate Economist with the RAND Corporation and a Research Fellow with the United States National Bureau of Economic Research. She has published extensively on drug administration and policy and is a leading advisor in her field.

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