An Information Infrastructure For The Pharmaceutical Market
Abstract
The primary contribution of Joseph Newhouse's paper is to make the point that it is impossible to devise a drug pricing policy that satisfies either the conditions for economic efficiency or prevailing standards of "fairness." Not specifically mentioned by Newhouse is a rule for the socially efficient outlays on selling and marketing by the pharmaceutical industry. In fact, it is not clear that the current allocation of the industry's revenue...
Paper Details
Title
An Information Infrastructure For The Pharmaceutical Market
Published Date
Jan 1, 2004
Journal
Volume
23
Issue
1
Pages
107 - 112
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