Sara Fisher Ellison () (MIT) Catherine Wolfram () (UC Berkeley)
Abstract
We investigate the effects of political activity on pharmaceutical prices, focusing on the health care reform period in the early 1990s.We characterize firms based on their vulnerability to future price regulation and find that the more vulnerable firms were more likely to take various actions to forestall regulation, most notably coordinating on a specific percentage price increase during 1993. Since moderating price increases could have averted regulation, the coordination appears to be the industry's response to a collective action problem. Ordering information: This article can be ordered from http://gemini.econ.umd.edu/cgi-bin/rje_online.cgi?action=buy&year=2006&issue=sum&page=324&tid=30492&sc=1869P1N9.
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Volume (Year): 37 (2006) Issue (Month): 2 (Summer) Pages: 324-340 Download reference. The following formats are available: HTML
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