“…In demand‐driven markets, suppliers’ participation responds to price signals, so demand is filled at the available price (McNamara et al., 2016). Most classic models of illegal wildlife trade are based on the assumption that markets are demand driven (e.g., Bowen‐Jones & Pendry, 1999; Brashares et al., 2004; Hall et al., 2008; Holden & Lockyer, 2021; McNamara et al., 2016; Milner‐Gulland & Clayton, 2002; Milner‐Gulland & Leader‐Williams, 1992). However, if restrictions on the quantity that can be legally traded exist (e.g., as a result of a quota), decisions by the trader are made under a fixed supply (e.g., supply‐driven market).…”