We describe the broad range of uncertainties faced by the developers of medical technologies. Empirically, we estimate the asset market incidence of two realizations of uncertainties we classify as within-market policy risks. The events we analyze concern the intellectual property of Myriad...

The creation of central purchasing bodies (CPBs) sought to generate administrative efficiencies and to aggregate public demand to enable the exercise of buying power capable of delivering better value for money and an opportunity for strategic procurement steering. However, CPB activity can have...

This paper studies the competitive effects of vertical integration between pharmaceutical drug producers and distributors in an auction setting. Utilizing data on 814,000 public procurement auctions in Russia, I identify the causal effect of vertical integration on the procurement prices of...

Public organisations are subjected to weak incentives for competition. Therefore, institutional Darwinism cannot apply. Regulation and performance monitoring is required to protect the public interest. This is particularly the case of health care organisations, where strong incentives may become...

In Medicare Part D, low income individuals receive subsidies to enroll into insurance plans. This paper studies how premiums are distorted by the combined effects of this subsidy and the default assignment of low income enrollees into plans. Removing this distortion could reduce the cost of the...

The rapid spread of COVID-19, firstly in Italy, exerted an impossible pressure on the EU and its Member States. Criticism of the speed of EU’s response to the pandemic, especially with regard to Italy, and signs of a lack of coordination accentuated by an initial “selfish” stance by some...

The public health and economic crisis caused by the COVID-19 pandemic has pushed governments to substantially and swiftly increase spending. Consequently, public procurement rules have been relaxed in many places to expedite transactions. However, this may also create opportunities for...

Norwegian abstract: Norges to minoritetsregjeringer i perioden 2013–2019 har blitt utfordret av opposisjonen innenfor velferdstjenester og anbud, men kritikken har ikke vært rettet mot ideelle aktører. Ti anmodningsvedtak i perioden 2016–2018 er fattet i Stortinget for å styrke ideelle...

We study how delivery times and prices for hospital medical devices respond to the introduction of centralized procurement. Our identification strategy leverages a legislative change in Italy that mandated centralized purchases for a sub-set of devices. The statutory centralization generated a...

Cancer often results in catastrophic health expenditures and creates a huge financial burden for families. We study the impact on patient finances and health outcomes of the national centralized drug procurement program in China for leukemia patients. The program reduced the price of the generic...