This paper deals with the question how to model health effects after the cessation of a randomised controlled trial (RCT). Using clinical trial data on severe congestive heart failure patients we illustrate how survival beyond the cessation of a RCT can be predicted based on parametric survival...

This paper deals with the question how to model health effects after the cessation of a randomised controlled trial (RCT). Using clinical trial data on severe congestive heart failure patients we illustrate how survival beyond the cessation of a RCT can be predicted based on parametric survival...

A reformulation of health economics is proposed that explicitly involves institutions. Decisions regarding health are taken under uncertainty, in the face of which institutions work and allow dealing with it. Taking institutions seriously allows moving forward from the economics of medical care...

Direct-to-consumer advertising of pharmaceuticals has led to questions of whether consumers benefit from the additional drug information, or are harmed by being induced to pursue prescriptions that are unnecessary or even dangerous. We conducted an empirical study of the relation between...

Despite its laudable intent, the National Vaccine Injury Compensation Program (VICP) is broken. The VICP is designed to compensate those injured or killed by vaccines. The problem is that the current practice in the VICP allows private attorneys to withdraw from a case before any decision is...

Using Italian data, we estimate an option value model to quantify the effectof financial incentives on retirement choices. As far as we know, this isthe first empirical study to estimate the conditional multiple-years modelput forward by Stock and Wise (1990). This implies that we account...

Dependent variables that are non-negative, follow right-skewed distributions, and have large probability mass at zero arise often in empirical economics. Two classes of models that transform the dependent variable y -- the natural logarithm of y plus a constant and the inverse hyperbolic sine --...

Child birth leads to a break in a woman's employment history and is considered one reason for the relatively poor labor market outcomes observed for women compared to men. However, the time spent at home after child birth varies significantly across mothers and is likely driven by observed and,...

In models that have a representation of the form       ) , ( x g y the Wald test for ˆBeta has systematically wrong size in finite samples when the indentifying parameter Gamma is small relative to its estimation error. An alternative test based on linearization of g(.) can be...

We present a new method for imposing and testing concavity of a cost function using asymptotic least squares, which can easily be implemented even for cost functions which are nonlinear in parameters. We provide an illustration on the basis of a (generalized) Box-Cox cost function with six...