EAST LANSING —Patrick L. Anderson, principal and CEO of Anderson Economic Group, presented Oct. 7 his national award-winning paper, “Blue Smoke and Seers: Measuring Latent Demand for Cannabis Products in a Partially Criminalized Market,” at the annual meeting of the National Association for Business Economics in Denver, Colorado.
“Blue Smoke” describes the methodology and challenges faced by Anderson and the analysts at Anderson Economic Group as they’ve benchmarked the level of demand for cannabis products in the United States since 2015.
Even as legal status changes in some states, ongoing underground economies, unobserved demand, and other factors continue to present challenges in providing reliable statistics. Anderson Economic Group’s work sought to overcome these challenges and fill the gaps in knowledge that surround the market trends for this consumer product.
Anderson said he was proud to accept the prestigious NABE Contributed Paper Award for AEG’s work in this area. This national honor is given to the second-place winner in the Mennis Award contest, and includes publication in the journal Business Economics. Anderson has previously won the Mennis Award three times, most recently in 2018.
The Edmund A. Mennis Award and NABE Contributed Paper Award were instituted in 1999 in honor of retiring Business Economics Editor Ed Mennis. The winning papers are selected by a panel of judges appointed by the editor of Business Economics.
More information at https://www.andersoneconomicgroup.com/