The FDA employs an average-patient standard when reviewing drugs: it approves a drug only if the average patient (in clinical trials) does better on the drug than on control. It is common, however, for different patients to respond differently to a drug. Therefore, the average-patient standard...

This paper examines the incentives for countries to report disease outbreaks such as swine flu, avian flu and SARS to the international community. Even cursory analysis suggests countries have conflicting incentives regarding whether to report an outbreak. Reporting an outbreak may bring medical...

Academics and businesspeople have long debate the merits of corporate philanthropy. It is our contention that this debate is too narrowly focused on the role of corporations. There is a robust market for philanthropic works - which we call the market for altruism - in which non-profit...

Highly pathogenic avian influenza travels from migratory birds via domesticated fowl to humans. A prominent strategy for protecting humans from bird flu is to cull chickens. A hurdle to culling chickens is procuring chickens to be culled. Governments have two extreme options: pay for chickens or...

The FDA employs an average-patient standard when reviewing drugs: it approves a drug only if is safe and effective for the average patient in a clinical trial. It is common, however, for patients to respond differently to a drug. Therefore, the average-patient standard can reject a drug that...

While conducting empirical work, researchers sometimes observe changes in outcomes before adoption of a new treatment program. The conventional diagnosis is that treatment is endogenous. Observing changes in outcomes prior to treatment is also consistent, however, with anticipation effects. This...