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来源类型Working Paper
规范类型报告
DOI10.3386/w18862
来源IDWorking Paper 18862
When Is Prevention More Profitable than Cure? The Impact of Time-Varying Consumer Heterogeneity
Michael Kremer; Christopher M. Snyder
发表日期2013-03-08
出版年2013
语种英语
摘要We argue that in pharmaceutical markets, variation in the arrival time of consumer heterogeneity creates differences between a producer's ability to extract consumer surplus with preventives and treatments, potentially distorting R&D decisions. If consumers vary only in disease risk, revenue from treatments--sold after the disease is contracted, when disease risk is no longer a source of private information--always exceeds revenue from preventives. The revenue ratio can be arbitrarily high for sufficiently skewed distributions of disease risk. Under some circumstances, heterogeneity in harm from a disease, learned after a disease is contracted, can lead revenue from a treatment to exceed revenue from a preventative. Calibrations suggest that skewness in the U.S. distribution of HIV risk would lead firms to earn only half the revenue from a vaccine as from a drug. Empirical tests are consistent with the predictions of the model that vaccines are less likely to be developed for diseases with substantial disease-risk heterogeneity.
主题Microeconomics ; Market Structure and Distribution ; Health, Education, and Welfare ; Health ; Industrial Organization ; Market Structure and Firm Performance ; Development and Growth ; Innovation and R& ; D
URLhttps://www.nber.org/papers/w18862
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/576537
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Michael Kremer,Christopher M. Snyder. When Is Prevention More Profitable than Cure? The Impact of Time-Varying Consumer Heterogeneity. 2013.
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