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In theory, equilibrium profits for drug patent holders would not involve significant restraints on production and patient utilization if the market had a mechanism for two-part pricing (Oi 1971) or quantity commitments (Murphy, Snyder, and Topel 2014). In fact, patent expiration has little...
Persistent link: https://www.econbiz.de/10013334448
This paper provides the first quantitative economic models of pharmacy benefit management regulation. The price-theoretic models allow for various market frictions and imperfections including market power, coordination costs, tax distortions, and incomplete innovation incentives. A rigorous...
Persistent link: https://www.econbiz.de/10014247918
We provide twelve best practices and discuss how each practice can help researchers accurately, credibly, and ethically use Generative AI (GenAI) to enhance experimental research. We split the twelve practices into four areas. First, in the pre-treatment stage, we discuss how GenAI can aid in...
Persistent link: https://www.econbiz.de/10015094867
Team incentives are important in many compensation systems that pay workers according to the output of their team as well as to their own output, with team bonuses often depending on whether the team meets or exceeds specified thresholds. Yet little is known about how team members with different...
Persistent link: https://www.econbiz.de/10013388782
The traditional approach in experimental economics is to use a between-subject design: the analyst places each unit in treatment or control simultaneously and recovers treatment effects via differencing conditional expectations. Within-subject designs represent a significant departure from this...
Persistent link: https://www.econbiz.de/10015326450
In recent years, field experiments have reshaped policy worldwide, but scaling ideas remains a thorny challenge. Perhaps the most important issue facing policymakers today is deciding which ideas to scale. One approach to attenuate this information problem is to augment traditional A/B...
Persistent link: https://www.econbiz.de/10015421874
We propose that a person's desire to consume an object or possess an attribute increases in how much others want but cannot have it. We term this motive superiority-seeking, and show that it generates preferences for exclusion that help explain a host of market anomalies and make novel...
Persistent link: https://www.econbiz.de/10013361988
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks. However, this procedure can still lead to potential attacks...
Persistent link: https://www.econbiz.de/10013334407
Subsidies and in-kind transfers give rise to negative fiscal externalities. However, internalizing negative fiscal externalities through taxation would undo the subsidy or in-kind transfer that caused them. Similarly, positive fiscal externalities cannot be internalized though government...
Persistent link: https://www.econbiz.de/10013334431
College admissions in many countries are based on a centrally administered test. Applicants invest a great deal of resources to improve their performance on the test, and there is growing concern about the large costs associated with these activities. We consider modifying such tests by...
Persistent link: https://www.econbiz.de/10013334438