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

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  • 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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Bibliographic 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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Keywords: avian flu; ambiguity; incomplete rights; market failure.;

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  1. 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).
  2. Antoine Billot & Alain Chateauneuf & Itzhak Gilboa & Jean-Marc Tallon, 2000. "Sharing beliefs: between agreeing and disagreeing," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00174553, HAL.
  3. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-80, November.
  4. Chichilnisky, Graciela & Heal, Geoffrey, 1998. "Managing unknown risks: the future of global reinsurance," MPRA Paper 8820, University Library of Munich, Germany.
  5. 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.
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