Access to medicines at prices patients can afford has been a recurrent concern for the global community ever since the Agreement on Trade Related Aspects of Intellectual Property (TRIPS) was adopted in 1995 as one of the agreements under the World Trade Organization (WTO). In 2001, WTO Members...

This article describes the anatomy of health insurance. It begins by considering the optimal design of health insurance policies. Such policies must make tradeoffs appropriately between risk sharing on the one hand and agency problems such as moral hazard (the incentive of people to seek more...