The aim of this article is to analyze the relationship between drug price and drug quality and how it varies across two of the most common regulatory regimes in the pharmaceutical market: Minimum Efficacy Standards (MES) and Price Controls (PC). We develop a model of adverse selection where a...

Throughout history, technological progress has transformed population health, but the distributional effects of these gains are unclear. New substitutes for older, more expensive health technologies can produce convergence in population health outcomes, but may also be prone to "elite capture"...

The support for scientific investigation in biomedicine depends in part on the adoption of new knowledge into medical practice. We investigate how a technological advance, in the form of a large and influential 2010 randomized controlled study, changed physician practice in statin (a medication...

This paper examines the relationship between drug price and drug quality and how it varies across two of the most common regulatory regimes in the pharmaceutical market: minimum efficacy standards (MES) and a mix of minimum efficacy standards and price control mechanisms (MES+PC). Through a...

The support for scientific investigation in biomedicine depends in part on the adoption of new knowledge into medical practice. We investigate how a technological advance, in the form of a large and influential 2010 randomized controlled study, changed physician practice in statin (a medication...

Throughout history, technological progress has transformed population health, but the distributional effects of these gains are unclear. New substitutes for older, more expensive health technologies can produce convergence in population health outcomes, but may also be prone to “elite...