KELTON, CHRISTINA M. L.; REBELEIN, ROBERT P. - In: Journal of Public Economic Theory 9 (2007) 2, pp. 285-318
Retail sales of prescription drugs totaled $154.5 billion in 2001 and will likely exceed $400 billion by 2010. This paper contrasts the welfare and distributional effects of the current patented-monopoly system with those of (1) a price ceiling on pharmaceutical products and (2) a universal...