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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

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/10012456398

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/10012457690

Heterogeneity in Cost-Sharing and Cost-Sensitivity, and the Role of the Prescribing Physician

Carrera, Mariana - 2013

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/10012459476

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/10012460018

Patient Costs and Physicians' Information

Dickstein, Michael J.; Jeon, Jihye; Morales, Eduardo - National Bureau of Economic Research - 2024

Health insurance plans in the U.S. increasingly use price mechanisms to steer demand for prescription drugs. The effectiveness of these incentives, however, depends both on physicians' price sensitivity and their knowledge of patient prices. We develop a moment inequality model that allows...

Persistent link: https://www.econbiz.de/10014468214

Price Sensitivity and Information Barriers to the Take-up of Naloxone

Jacobson, Mireille; Powell, David - National Bureau of Economic Research - 2024

We conducted a field experiment that randomized advertisements, advertisement content, and prices across 2,204 counties in the United States to study the impacts on online purchases of naloxone, an opioid overdose reversal drug. Advertising increased website users but only impacted purchases...

Persistent link: https://www.econbiz.de/10014468229

The Impact of a Government Risk Pool and an Opt-Out Framing on Demand for Earthquake Protection

Kunreuther, Howard; Conell-Price, Lynn; Kovacs, Paul; … - National Bureau of Economic Research - 2021

This paper describes the design and analysis of a web-based choice experiment that examines how the demand for earthquake protection in Quebec and British Columbia is influenced by the default option and the structure of the insurance plan. Homeowners in both provinces were given the opportunity...

Persistent link: https://www.econbiz.de/10012616592

Marijuana and Youth

Pacula, R. L. - 2000

This paper contains the first estimates of the price sensitivity of the prevalence of youth marijuana use. Survey data on marijuana use by high school seniors from the Monitoring the Future Project are combined with data on marijuana prices and potency from the Drug Enforcement Administration...

Persistent link: https://www.econbiz.de/10012471058

Cigarettes and Alcohol : Substitutes or Complements?

Decker, Sandra L. - 2000

Taxation of cigarettes and alcohol can raise revenue and reduce consumption of goods with negative external effects. Despite medical and psychological evidence linking their consumption, little previous work has investigated the significance of cross-price effects in cigarette and alcohol...

Persistent link: https://www.econbiz.de/10012471201

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