Cognitive dissonance and risk denial: The case of cannabis use in adolescents

This paper integrates insights from both sociology and psychology into the economic approach of drug use. Within this theoretical framework, the utility provided by cannabis use depends on the ability to deny its riskiness, and this ability is a kind of human capital accumulated through earlier consumption. This assumption is tested with a dataset of French adolescents. A simultaneous equation model is estimated, with one equation for cannabis use, and one for risk denial. The results provide some empirical evidence in favour of the tested assumption, and they also cast doubt on the efficiency of preventive information at school.