Addiction journal
Addiction journal
Cannabis legality and price elasticity - with Michael Amlung
Cannabis legality and price elasticity - with Michael Amlung
Cannabis legality and price elasticity - with Michael Amlung
Sunday 3rd May 2020
Dr. Michael Amlung explores how legal cannabis prices affect consumer choices and what this means for future policy on 'Addiction Audio'.
10 minutes
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Addiction journal
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Navigating Alcohol Dependency
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Get the buttons here!Cannabis Choices: How Legalization Affects Consumer Preferences with Dr. Michael Amlung
We think this has important implications for jurisdictions that are considering legalizing cannabis.
Ever wondered how the price of cannabis influences whether people buy it legally or illegally? Dr. Michael Amlung, an Assistant Professor of Psychiatry at McMaster University, dives into this fascinating topic in a conversation with Dr. Rob Calder on 'Addiction Audio'. Dr. Amlung's research examines how the introduction of legal cannabis impacts consumer choices, focusing on price elasticity—the idea that changes in price can affect the demand for a product.
In simpler terms, he looks at whether people are more likely to buy legal or illegal cannabis based on its cost. His findings reveal that as the price of legal cannabis goes up, people tend to stick with it due to its quality control and known levels of THC and CBD, rather than switching back to illegal options. This has huge implications for policymakers and anyone interested in the effects of cannabis legalization.
By listening to this episode, you'll get a clear picture of how legal cannabis markets are shaping consumer behavior and what this means for future legislation. It's an insightful chat that breaks down complex economic concepts into easy-to-understand ideas, making it perfect for anyone curious about the ongoing changes in cannabis laws.