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NCJRS Abstract

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NCJ Number: 148315 Add to Shopping cart Find in a Library
Title: Developing Price Series for Cocaine
Author(s): J P Caulkins
Corporate Author: Rand Corporation
United States of America
Date Published: 1994
Page Count: 75
Sponsoring Agency: Carnegie Mellon University
Pittsburgh, PA 15213
Ford Foundation
New York, NY 10017
National Institute of Justice/
Rockville, MD 20849
Rand Corporation
Santa Monica, CA 90407-2138
Publication Number: ISBN 0-8330-1518-4
Sale Source: Rand Corporation
1776 Main Street
P.O. Box 2138
Santa Monica, CA 90407-2138
United States of America

National Institute of Justice/
NCJRS paper reproduction
Box 6000, Dept F
Rockville, MD 20849
United States of America
Document: PDF
Type: Report (Technical Assistance)
Language: English
Country: United States of America
Annotation: This report describes how to construct time series for the price of cocaine using data from the Drug Enforcement Administration's System to Retrieve Information from Drug Evidence, a database that includes records of prices paid by undercover agents for individual purchases.
Abstract: Central to this process is the task of standardizing data for transaction size and purity. The report reviews prior efforts in this area and concludes that their methods of handling purity are inadequate. This report suggests that because quality control is difficult for illegal products, price is influenced more by the expected purity than by the actual purity of the product. Using this concept, price series are constructed for the gram, ounce, and kilogram level in a variety of locations. Analysis of these series reveals that significant price differences exist between cities, even at the wholesale level; these differences do not necessarily dissipate over time; and the ratio of prices at different market levels has remained remarkably constant over time. This last result is consistent with the hypothesis that price increases at one level are passed through to lower levels on a percentage basis (i.e., according to a multiplicative model) rather than a dollar- for-dollar basis (i.e., according to an additive model). Tables, figures, footnotes, and 28 references (Author abstract modified)
Main Term(s): Drug information
Index Term(s): Cocaine; Drug law offenses; Economic models; Time series
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