Despite the large disease burden imposed by Alzheimer’s disease (AD), little quantitative evidence exists on the aggregate value stemming from innovation slowing the progression of the disease. To fill this gap, this paper uses the existing evidence base to assess the...
This paper revisits Peltzman (1973) in light of two recent opportunities to quantitatively assess tradeoffs in drug regulation. First, reduced regulatory barriers to drug manufacturing associated with the 2017 reauthorization of Generic Drug User Fee Amendments were...
Consumer theory is extended to incorporate deviations from the law of one price that are common in markets for prescription and illicitly-manufactured opioids. The extension helps to resolve “puzzling” findings in the literature, such as race and age gaps in mortality...
This paper reviews the evidence covering the impact of biopharmaceuticals on the level and growth of total health care costs. The primary source of spending in health care is on labor, such as doctors, nurses or assistants, which makes up over 70% of overall spending,...
In theory, equilibrium profits for drug patent holders would not involve significant restraints on production and patient utilization if the market had a mechanism for two-part pricing (Oi 1971) or quantity commitments (Murphy, Snyder, and Topel 2014). In fact, patent...
