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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/10012989727
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Private Provision of Social Insurance : Drug-Specific Price Elasticities and Cost Sharing in Medicare Part D
Einav, Liran - 2016
Standard theory suggests that optimal consumer cost-sharing in health insurance increases with the price elasticity of demand, yet publicly-provided drug coverage typically involves uniform cost-sharing across drugs. We investigate how private drug plans set cost-sharing in the context of...
Persistent link: https://www.econbiz.de/10012991674
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Prescription Drug Use Under Medicare Part D : A Linear Model of Nonlinear Budget Sets
Abaluck, Jason - 2015
Medicare Part D enrollees face a complicated decision problem: they must dynamically choose prescription drug consumption in each period given difficult- to-find prices and a non-linear budget set. We use Medicare Part D claims data from 2006-2009 to estimate a flexible model of consumption that...
Persistent link: https://www.econbiz.de/10013027269
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The Rand Health Insurance Experiment, Three Decades Later
Aron-Dine, Aviva - 2012
We re-present and re-examine the analysis from the famous RAND Health Insurance Experiment from the 1970s on the impact of consumer cost sharing in health insurance on medical spending. We begin by summarizing the experiment and its core findings in a manner that would be standard in the current...
Persistent link: https://www.econbiz.de/10013096134
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Heterogeneity in Cost-Sharing and Cost-Sensitivity, and the Role of the Prescribing Physician
Carrera, Mariana; Goldman, Dana; Goldman, Dana P.; … - 2021
In this paper, we use individual level data on purchases of one of the most prescribed categories of drugs (cholesterol-lowering statins) to study the responses of physicians and patients to variation in the cost of drugs. In a sample of first-time statin prescriptions to employees from a group...
Persistent link: https://www.econbiz.de/10013225005
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Heterogeneous Investors and Their Changing Demand and Supply Schedules for Individual Common Stocks
Kim, Jung-Wook - 2013
Using 550 million limit orders submitted in the Korea Stock Exchange, we estimate demand and supply elasticities of heterogeneous investor types and their changes around the Asian financial crisis. We find that domestic individuals have substantially more inelastic demand and supply curves than...
Persistent link: https://www.econbiz.de/10012754607
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Water Demand Under Alternative Price Structures
Olmstead, Sheila M. - 2010
We estimate the price elasticity of water demand with household-level data, structurally modeling the piecewise-linear budget constraints imposed by increasing-block pricing. We develop a mathematical expression for the unconditional price elasticity of demand under increasing-block prices and...
Persistent link: https://www.econbiz.de/10012759730
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Evidence of a Shift in the Short-Run Price Elasticity of Gasoline Demand
Hughes, Jonathan E. - 2010
Understanding the sensitivity of gasoline demand to changes in prices and income has important implications for policies related to climate change, optimal taxation and national security, to name only a few. While the short-run price and income elasticities of gasoline demand in the United...
Persistent link: https://www.econbiz.de/10012760637
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Dynamics of Consumer Demand for New Durable Goods
Gowrisankaran, Gautam - 2009
Most new consumer durable goods experience rapid prices declines and quality improvements, suggesting the importance of modeling dynamics. This paper specifies a dynamic model of consumer preferences for new durable goods with persistently heterogeneous consumer tastes, rational expectations,...
Persistent link: https://www.econbiz.de/10012764836
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How Does Charitable Giving Respond to Incentives and Income? Dynamic Panel Estimates Accounting for Predictable Changes in Taxation
Bakija, Jon - 2008
We estimate the elasticity of charitable giving with respect to its price and after-tax income using a panel of over 550,000 disproportionately high-income tax returns spanning the years 1979 through 2005. Improvements relative to the previous literature include: using state tax variation to...
Persistent link: https://www.econbiz.de/10012770674