The number of cocaine users in the United States peaked in the early 1980's at about 9 million and has gradually decreased to about 7 million in 1994. The downward trend in the total number of cocaine users, however, is misleading because a decline in the number of light users has masked an increase in the number of heavy users. Heavy users consume cocaine at a rate approximately eight times that of light users. The authors assess the cost-effectiveness of source country control, interdiction, domestic enforcement, and treatment interventions. They suggest that the focus shift from supply control to heavy user treatment and present four possible alternatives to current cocaine control policy: (1) decrease supply control budgets by 25 percent; (2) decrease supply control budgets by 25 percent and double treatment efforts; (3) decrease supply control budgets by 25 percent and treat 100 percent of heavy users; and (4) treat 100 percent of heavy users without changing supply control budgets. Additional information on cocaine supply, demand, and control is appended. 99 references, 49 tables, and 55 figures