Using Behavioral Economics Approach to Examine Preferences for Marijuana Products

Recreational marijuana legalization has been adopted by 11 states and Washington DC in the U.S., yet very little is known about consumers’ preferences and demand for legal marijuana products after retail market is open. Particularly, policymaking lacks empirical support for the effectiveness of various regulatory strategies on marijuana control. The objective of the research is to examine the preferences for different marijuana products in legal retail market using behavioral economics approach.