Objectives: Major guidelines regarding the application of cost‐effectiveness analysis (CEA)
have recommended the common and widespread use of the “societal perspective” for …

For decades, the US public and private sectors have committed substantial resources
towards cancer research, but the societal payoff has not been well-understood. We quantify …

Monopolies appear throughout health care. We show that health insurance operates like a
conventional two-part pricing contract that allows monopolists to extract profits without …

Rewarding inventors with inefficient monopoly power has long been regarded as the price of
encouraging innovation. Prescription drug insurance escapes that trade-off and achieves an …

Medical care at the end of life, which is often is estimated to contribute up to a quarter of US
health care spending, often encounters skepticism from payers and policy makers who …

Abstract In the United States, the Food and Drug Administration (FDA) provides public
oversight of the safety and efficacy of drugs; medical devices; biologics like vaccines and …

The investment, financing, and risk management decisions of pharmaceutical,
biotechnology, and medical device firms are fundamentally important to the development …

The biopharmaceutical industry is one of America's leading sectors in terms of funding
research and employing researchers. Public policy should try to encourage its growth and …

After a technology is developed, cost-effectiveness analysis can offer an economically
sound approach to adoption decisions. Little attention has been paid, however, to the …

The rate of spending on health in Canada is rising faster than the rate of economic growth,
creating concerns about the sustainability of Canada's publicly funded healthcare systems …