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The home-market effect, first hypothesized by Linder (1961) and later formalized by Krugman (1980), is the idea that countries with larger demand for some products at home tend to have larger sales of the same products abroad. In this paper, we develop a simple test of the home-market effect...
Persistent link: https://www.econbiz.de/10012984754
We develop a real options model of Ramp;D valuation, which takes into account the uncertainty in the quality of the research output, the time and cost to completion, and the market demand for the Ramp;D output. The model is then applied to study the problem of pharmaceutical under-investment in...
Persistent link: https://www.econbiz.de/10012750738
Persistent link: https://www.econbiz.de/10013077983
Federal purchases of major childhood vaccines account for roughly half of the total market for these vaccines. This paper examines Federal purchasing practices in the context of the recent literature on bidding and procurement, and compares these practices to UNICEF vaccine procurement...
Persistent link: https://www.econbiz.de/10013322317
Across the social sciences, a key question is how societies manage to enforce cooperative behavior in social dilemmas such as public goods provision or bilateral trade. According to an influential body of theories in psychology, anthropology, and evolutionary biology, the answer is that humans...
Persistent link: https://www.econbiz.de/10012954472
What does economics have to say about the design of international trade agreements? We review a literature on this question, providing detailed coverage on three key design features of the GATT/WTO: reciprocity, nondiscrimination as embodied in the MFN principle, and tariff bindings and binding...
Persistent link: https://www.econbiz.de/10012996393
This paper examines the effect of drug prohibition on the black market prices of cocaine and heroin. The paper examines the ratio of retail to farmgate price for cocaine, heroin, and several legal goods, and it compares legal versus black market prices for cocaine and heroin. The results suggest...
Persistent link: https://www.econbiz.de/10013222243
Pharmaceutical firms' use of secondary patents to extend periods of exclusivity generates concerns among policymakers worldwide. In response, some developing countries have introduced measures to curb the grant of these patents. While these measures have received considerable attention, there is...
Persistent link: https://www.econbiz.de/10012964387
Childhood vaccinations are an important input to disease prevention, but vaccination rates have declined over the last decade due largely to parental fears about vaccine dangers. Education campaigns on the safety of vaccines seem to have little impact. Anecdotal evidence on disease outbreaks...
Persistent link: https://www.econbiz.de/10012985902
Efforts to strengthen the global patent system for pharmaceuticals continue to be controversial, and what will likely …
Persistent link: https://www.econbiz.de/10013224385