Bestimmungsgruende fuer den medizinischen Fortschritt
AbstractIn this article it is analysed which factors determine the medical and technological advances in the field of pharmaceuticals, medical products and medical procedures. We do not have a general theory on the determinants of technological advances. That’s why all arguments, which are in discussion, are analysed for each segment. In conclusion, the pharmaceutical advances are mainly driven by the demand, the progress in medical products is driven by spill-over effects from advances in other areas of the economy and medical procedures are driven by the interest of the researching physicians in raising theirs reputation in the scientific community. These conclusions depend on the existing regulation, which is quite different between the analysed sectors. How the determinants might change when the regulations change, is shown in the outlook chapter of this article.
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Bibliographic InfoArticle provided by Justus-Liebig University Giessen, Department of Statistics and Economics in its journal Journal of Economics and Statistics.
Volume (Year): 227 (2007)
Issue (Month): 5+6 (December)
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Medical progress; medical advances; economic theory; demand-pull; technology-push; patent theory; prospect-theory; reward theory; hysteresis thesis; technology lock-in; pharmaceuticals; drugs; medical devices; medical products; medical procedures; incentives; non-monetary incentives; research incentive; academic community; homeopathic therapy; physician incentives; research and development;
Find related papers by JEL classification:
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- I11 - Health, Education, and Welfare - - Health - - - Analysis of Health Care Markets
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- Kitch, Edmund W, 1977. "The Nature and Function of the Patent System," Journal of Law and Economics, University of Chicago Press, vol. 20(2), pages 265-90, October.
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