This paper studies the effect of two regulatory instruments - a price cap and a reference price system - a mandatory substitution rule, and the combination of both on generic competition in a Salop-type model with an off-patent brand-name drug and n differentiated generic versions. The price cap...

This paper studies how the political influence of consumer groups and firms affects the behavior of state regulators and in turn the effectiveness of federal policies. We employ a unique granular data set for U.S. local telephone markets to examine empirically differences in state and intrastate...