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The Value of Pharmacy Benefit Management
Mulligan, Casey B. - National Bureau of Economic Research - 2022
In theory, equilibrium profits for drug patent holders would not involve significant restraints on production and … through insurance plans. This paper provides a quantitative model consistent with the theory and evidence in which pharmacy … benefit management on behalf of insurance plans serves these and other purposes in both monopoly and oligopoly provider …
Persistent link: https://www.econbiz.de/10013334448
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Do Managerial Objectives Drive Bad Acquisitions?
Morck, Randall - 1989
, when it buys a rapidly growing target , and when the performance of its managers has been poor before the acquisition …
Persistent link: https://www.econbiz.de/10012476048
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Trust in Large Organizations
Porta, Rafael La - 1996
Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and therefore of performance of social institutions. We argue that trust should be particularly important for the performance of large organizations. In a cross-section of countries,...
Persistent link: https://www.econbiz.de/10012472964
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Induced Retirement, Social Security, and the Pyramid Mirage
Mulligan, Casey B. - 2000
Does Social Security redistribute across cohorts? Or is it a program for purchasing the jobs' of the elderly? I formalize both models, showing how they have some predictions in common the most important of which is that generational accounts have the appearance of a pyramid scheme.' I also...
Persistent link: https://www.econbiz.de/10012471088
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Human Capital, Heterogeneity, and Estimated Degrees of Intergenerational Mobility
Han, Song - 2000
Some of the important implications of the parental investment model of intergenerational mobility have been derived under the assumption that parental income is the main source of heterogeneity. We explicitly model the variability and inheritability of innate' earnings ability and the...
Persistent link: https://www.econbiz.de/10012471089
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Social Security in Theory and Practice (I) : Facts and Political Theories
Mulligan, Casey B. - 1999
166 countries have some kind of public old age pension. What economic forces create and sustain old age Social Security as a public program? We document some of the internationally and historically common features of Social Security programs including explicit and implicit taxes on labor supply,...
Persistent link: https://www.econbiz.de/10012471676
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Gerontocracy, Retirement, and Social Security
Mulligan, Casey B. - 1999
Why are the old politically successful? We build a simple interest group model in which political pressure is time-intensive, showing that in the political competitive equilibrium each group lobbies for government policies that lower their own value of time but that the old do so to a greater...
Persistent link: https://www.econbiz.de/10012471677
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Microfoundations and Macro Implications of Indivisible Labor
Mulligan, Casey B. - 1999
I show that the indivisible labor' models of Diamond and Mirrlees (1978, 1986), Hansen (1985), Rogerson (1988), Christiano and Eichenbaum (1992), and many others are, when aggregated across persons with the same marginal utility of income, equivalent to the divisible labor model of Lucas and...
Persistent link: https://www.econbiz.de/10012471678
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Salience
Bordalo, Pedro; Gennaioli, Nicola; Shleifer, Andrei - National Bureau of Economic Research - 2021
We review the fast-growing work on salience and economic behavior. Psychological research shows that salient stimuli attract human attention "bottom up" due to their high contrast with surroundings, their surprising nature relative to recalled experiences, or their prominence. The Bordalo,...
Persistent link: https://www.econbiz.de/10012629494
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Bequests as a Means of Payment
Bernheim, B. Douglas - 1984
Although recent research suggests that intergenerational transfers play an important role in aggregate capital accumulation, our understanding of bequest motives remains incomplete. We develop a simple model of"exchange-motivated" bequests, in which a testator influences the decisions ofhis...
Persistent link: https://www.econbiz.de/10012477792