The dominant theory in economics for centuries in the Western world has been the free market system, yet the ability of competitive markets to provide quality care has been a central point of recent debate. Extensive government regulation, though well-intentioned, adversely affects the overall health of Americans, inhibits medical innovation, and demands enormous tax-payer investment. The Initiative on Enabling Choice and Competition in Healthcare delivers cutting edge research on the efficiencies of competitiveness in the healthcare sector to demonstrate that free market forces can and do work to provide innovative, equitable, and high-quality care.
How Chicago Economics is Helping End a Pandemic
A conversation between Casey Mulligan, Tomas Philipson, Kevin Murphy, and Robert Topel on how Chicago Economics played a primary role in the success of Operation WARP Speed.
In the Press
Working Papers
Policy Brief: The Impact of Price Setting at 9 Years on Small Molecule Innovation Under the Inflation Reduction Act*
This policy brief provides a quantitative analysis of how the Inflation Reduction Act’s (IRA) policy to set prices for select small molecule drugs 9 years after FDA approval impacts innovation and patient health. Price setting...
Policy Brief: The Potentially Larger Than Predicted Impact of the IRA on Small Molecule R&D and Patient Health
This policy brief analyzes the impact of regulatory and legislative changes within the Inflation Reduction Act (IRA) on medical R&D and patient health with respect to small molecule drugs. Initial evidence potentially suggests that the cutbacks in R&D have...
Evaluating the Economic Impact of CMS coverage Delays for New Alzheimer’s Drugs
Historically, Medicare has reimbursed drugs approved by the Food and Drug Administration (FDA) including drugs granted accelerated approval. In 2021, FDA granted accelerated approval to plaque-targeting treatments for Alzheimer’s disease (AD), but the Centers for...