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The Welfare Effects of Public Drug Insurance
Lakdawalla, Darius - 2007
Rewarding inventors with inefficient monopoly power has long been regarded as the price of encouraging innovation. Public prescription drug insurance escapes that trade-off and achieves an elusive goal: lowering static deadweight loss, while simultaneously encouraging dynamic investments in...
Persistent link: https://www.econbiz.de/10012465145
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Direct to Consumer Advertising of Pharmaceutical Drugs : Information and Persuasion
Bar, Talia - 2014
We formally model direct to consumer advertising (DTCA) of prescription drugs and examine factors that determine a pharmaceutical firm's DTCA strategy. We highlight how the profitability of DTCA varies with the characteristics of the condition that the advertised drug treats, the incidence of...
Persistent link: https://www.econbiz.de/10012458869
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Evolving Choice Inconsistencies in Choice of Prescription Drug Insurance
Abaluck, Jason - 2013
We study choice over prescription insurance plans by the elderly using government administrative data to evaluate how these choices are made and evolve over time. We find that there is large "foregone savings" from not choosing the lowest cost plan that has grown over time. We develop a...
Persistent link: https://www.econbiz.de/10012459498
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Behavioral Public Economics : Welfare and Policy Analysis with Non-Standard Decision-Makers
Bernheim, B. Douglas - 2005
This paper has two goals. First, we discuss several emerging approaches to applied welfare analysis under non-standard ("behavioral") assumptions concerning consumer choice. This provides a foundation for Behavioral Public Economics. Second, we illustrate applications of these approaches by...
Persistent link: https://www.econbiz.de/10012467161
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Price Indices and the Value of Innovation with Heterogenous Patients
Lucarelli, Claudio; Nicholson, Sean; Tilipman, Nicholas - National Bureau of Economic Research - 2021
Many countries use uniform cost-effectiveness criteria to determine whether to adopt a new medical technology for the entire population. This approach assumes homogeneous preferences for expected health benefits and side effects. We examine whether new prescription drugs generate welfare gains...
Persistent link: https://www.econbiz.de/10012482551
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Free Distribution or Cost-Sharing? Evidence from a Malaria Prevention Experiment
Cohen, Jessica - 2008
It is often argued that cost-sharing -- charging a subsidized, positive price -- or a health product is necessary to avoid wasting resources on those who will not use or do not need the product. We explore this argument through a field experiment in Kenya, in which we randomized the price at...
Persistent link: https://www.econbiz.de/10012464241
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Integrated Insurance Design in the Presence of Multiple Medical Technologies
Goldman, Dana - 2007
The classic theory of moral hazard concerns the insurance of a single good and predicts that co-insurance is larger …
Persistent link: https://www.econbiz.de/10012465786
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Estimating the Effects of Global Patent Protection in Pharmaceuticals : A Case Study of Quinolones in India
Chaudhuri, Shubham - 2003
Under the TRIPS agreement, WTO members are required to enforce product patents for pharmaceuticals. The debate about … pharmaceuticals will result in substantially higher prices for medicines, with adverse consequences for the health and well-being of … these claims. Central to the ongoing debate is the structure of demand for pharmaceuticals in poor economies where, because …
Persistent link: https://www.econbiz.de/10012468535
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Estimating the Heterogeneous Welfare Effects of Choice Architecture : An Application to the Medicare Prescription Drug Insurance Market
Ketcham, Jonathan D. - 2016
We develop a structural model for bounding welfare effects of policies that alter the design of differentiated product markets when some consumers may be misinformed about product characteristics and inertia in consumer behavior reflects a mixture of latent preferences, information costs,...
Persistent link: https://www.econbiz.de/10012455948
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Price Elasticities of Pharmaceuticals in a Value-Based-Formulary Setting
Yeung, Kai - 2016
pharmaceuticals, are deemed to be price inelastic with price elasticities of demand (PED) close to -0.20. However, most studies of PED … designed based on drug-specific incremental cost-effectiveness ratios, we estimate price elasticities of pharmaceuticals within … produce positive welfare effects. We estimate an overall PED for pharmaceuticals to be -0.16, close to the estimate of RAND …
Persistent link: https://www.econbiz.de/10012456367