Taxation and market power in the legal marijuana industry
利用华盛顿州的行政数据，研究合法大麻市场中市场势力如何改变税收与监管政策建议，发现大麻税负主要由消费者承担且社会成本高。
Abstract We study tax and regulatory policy in the legal marijuana market using unique administrative data from Washington state. Washington's retail entry restrictions have resulted in firms with substantial market power who behave like local monopolists. We show how the presence of market power causes tax and regulatory policy recommendations to differ from standard models that assume perfect competition. Combining structural demand models with measured pass‐through, we show that marijuana is not overtaxed at 37% but is still on the upward sloping region of the Laffer curve and that these taxes have high social costs and are mainly borne by consumers.