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The global strategy to cope with H5N1: the property rights caveat

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Author Info
Marcello Basili ()

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Abstract

Shortage of stockpiled antiviral drugs and insufficient production capacity of vaccines make the possible avian flu pandemic a global disaster. Catastrophic consequences in social and economic losses loom over the near future of humans but they derive from a wrong business model based on private production granted by patent rights and price discrimination. In this paper a new sustainable economic model for vaccines and antiviral drugs production based on liability rule and trust fund is advanced.

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Publisher Info
Paper provided by Department of Economic Policy, Finance and Development (DEPFID), University of Siena in its series Department of Economic Policy, Finance and Development (DEPFID) University of Siena with number 0908.

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Date of creation: Jul 2008
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Handle: RePEc:usi:depfid:0908

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Postal: Piazza San Francesco 7, 53100 Siena
Web page: http://www.depfid.unisi.it/
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Related research
Keywords: avian flu; ambiguity; incomplete rights; market failure.;

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Find related papers by JEL classification:
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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  1. Antoine Billot & Alain Chateauneuf & Itzhak Gilboa & Jean-Marc Tallon, 2000. "Sharing Beliefs: Between Agreeing and Disagreeing," Econometrica, Econometric Society, vol. 68(3), pages 685-694, May.
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  2. Basili, Marcello & Chateauneuf, Alain & Fontini, Fulvio, 2008. "Precautionary principle as a rule of choice with optimism on windfall gains and pessimism on catastrophic losses," Ecological Economics, Elsevier, vol. 67(3), pages 485-491, October. [Downloadable!] (restricted)
  3. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-80, November. [Downloadable!] (restricted)
  4. Thibault Gajdos & Jean-Marc Tallon & Jean-Christophe Vergnaud, 2005. "On the impossibility of preference aggregation under uncertainty," Cahiers de la Maison des Sciences Economiques v05012, Université Panthéon-Sorbonne (Paris 1). [Downloadable!]
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  5. Chichilnisky, Graciela & Heal, Geoffrey, 1998. "Managing unknown risks: the future of global reinsurance," MPRA Paper 8820, University Library of Munich, Germany. [Downloadable!]
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