Drugs, Showrooms and Financial Products: Competition and Regulation When Sellers Provide Expert Advice

51 Pages Posted: 30 Nov 2016 Last revised: 16 Jan 2017

See all articles by David Bardey

David Bardey

Universidad de los Andes, Colombia - Department of Economics

Denis Gromb

HEC Paris

David Martimort

Paris School of Economics (PSE)

Jérôme Pouyet

Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS); National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST); Centre for Economic Policy Research (CEPR)

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Date Written: November 15, 2016

Abstract

This paper examines the evolution of drug use in Colombia over the past years. Our analysis, based on surveys from the Dirección Nacional de Estupefacientes, shows that drug consumption grew substantially between 1996 and 2013. The growth occurred for both genders, all ages, socioeconomic strata and types of occupation. The results also suggest that men of high socioeconomic strata who regularly consume alcohol and cigarettes and who are between 18 and 24 years of age are more likely to use drugs. Finally, the paper presents some indirect evidence that contradicts the alleged effects of the judgment of the Constitutional Court (Sentencia C-221 of May 1994) that decriminalized the personal dose on the consumption of drugs in Colombia.

Keywords: Drugs, decriminalization

JEL Classification: D12, I18

Suggested Citation

Bardey, David and Gromb, Denis and Martimort, David and Pouyet, Jerome, Drugs, Showrooms and Financial Products: Competition and Regulation When Sellers Provide Expert Advice (November 15, 2016). Documento CEDE No. 2016-35, HEC Paris Research Paper No. FIN-2017-1184, Available at SSRN: https://ssrn.com/abstract=2877214 or http://dx.doi.org/10.2139/ssrn.2877214

David Bardey (Contact Author)

Universidad de los Andes, Colombia - Department of Economics ( email )

Carrera 1a No. 18A-10
Santafe de Bogota, AA4976
Colombia

Denis Gromb

HEC Paris

1 rue de la Liberation
Jouy-en-Josas Cedex, 78351
France

David Martimort

Paris School of Economics (PSE) ( email )

48 Boulevard Jourdan
Paris, 75014 75014
France

Jerome Pouyet

Ecole Nationale des Ponts et Chaussées (ENPC) - Centre d'Enseignement et de Recherche en Analyse Socio-Economique (CERAS) ( email )

28, rue des Saints-Peres
75007 Paris
France
+33 1 4458 2870 (Phone)
+33 1 4458 2880 (Fax)

National Institute of Statistics and Economic Studies (INSEE) - Center for Research in Economics and Statistics (CREST)

15 Boulevard Gabriel Peri
Malakoff Cedex, 1 92245
France

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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