| PRICE CONTROLS FOR MEDICAL INNOVATIONS IN A LIFE CYCLE PERSPECTIVE. | |
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MedLine Citation:
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PMID: 23339083 Owner: NLM Status: Publisher |
Abstract/OtherAbstract:
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We study the market for new medical technologies from a life cycle perspective, incorporating the fact that healthcare utilization is biased towards old age. Contrary to conventional wisdom, we find that price controls on medical innovations can expand investment in medical R&D and results in Pareto superior social outcomes, a consequence of the price controls' ability to increase saving. Importantly, this finding occurs only when the price cap regime is extensive: selective regulation on few technologies - such as pharmaceuticals alone - have the conventional negative effect on innovation. Copyright © 2013 John Wiley & Sons, Ltd. |
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Authors:
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Gilad Sorek |
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Publication Detail:
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Type: JOURNAL ARTICLE Date: 2013-1-22 |
Journal Detail:
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Title: Health economics Volume: - ISSN: 1099-1050 ISO Abbreviation: Health Econ Publication Date: 2013 Jan |
Date Detail:
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Created Date: 2013-1-22 Completed Date: - Revised Date: - |
Medline Journal Info:
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Nlm Unique ID: 9306780 Medline TA: Health Econ Country: - |
Other Details:
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Languages: ENG Pagination: - Citation Subset: - |
Copyright Information:
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Copyright © 2013 John Wiley & Sons, Ltd. |
Affiliation:
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Department of Economics, Auburn University, Auburn, AL, USA. |
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From MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine
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