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An Economic Response to the Substance Use Crisis
Journal IssueVolume 29, 2022
Behavioral economic theories can be applied to substance use in an effort to understand an individual’s demand, utility maximization, and consumption over time for addictive goods. These theories can shape public policy in a way that would both reduce the consumption of addictive substances and help people on their road to recovery. This paper examines the current research on behavioral economic theories on substance use as well as the implications of these theories on public policy.