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The economic dynamics of antibiotic efficacy under open access

  • Herrmann, Markus
  • Gaudet, Gérard

We analyze the exploitation of an antibiotic in a market subject to open access on the part of antibiotic producers to the common pool of antibiotic efficacy. While the market equilibrium depends only on current levels of antibiotic efficacy and infection of the epidemiological system, the social optimum accounts for the dynamic externalities which relate those levels to the intertemporal use being made of the antibiotic. We show that depending on the parameters of the model, in particular the cost of production and the improvement in the recovery rate that results from antibiotic treatment, the positive steady-state level of antibiotic efficacy to which the system tends under open access can be lower or higher than the level which should prevail in the socially optimal steady state. In fact there are parameter configurations for which the steady states can be exactly the same. However, the paths leading to the steady state always differ.

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File URL: http://www.sciencedirect.com/science/article/B6WJ6-4TT31MP-1/2/18a9e9f428abced503732b4bacab2a30
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Article provided by Elsevier in its journal Journal of Environmental Economics and Management.

Volume (Year): 57 (2009)
Issue (Month): 3 (May)
Pages: 334-350

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Handle: RePEc:eee:jeeman:v:57:y:2009:i:3:p:334-350
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622870

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  1. Mark Gersovitz & Jeffrey S. Hammer, 2004. "The Economical Control of Infectious Diseases," Economic Journal, Royal Economic Society, vol. 114(492), pages 1-27, 01.
  2. Tisdell, Clem, 1982. "Exploitation of Techniques That Decline in Effectiveness with Use," Public Finance = Finances publiques, , vol. 37(3), pages 428-37.
  3. Laxminarayan, Ramanan & Brown, Gardner M., 2001. "Economics of Antibiotic Resistance: A Theory of Optimal Use," Journal of Environmental Economics and Management, Elsevier, vol. 42(2), pages 183-206, September.
  4. Brown, Gardner & Layton, David F., 1996. "Resistance economics: social cost and the evolution of antibiotic resistance," Environment and Development Economics, Cambridge University Press, vol. 1(03), pages 349-355, July.
  5. Gardner Brown & Ramanan Laxminarayan, 1998. "Economics of Antibiotic Resistance," Working Papers 0060, University of Washington, Department of Economics.
  6. Elamin H. Elbasha, 2003. "Deadweight loss of bacterial resistance due to overtreatment," Health Economics, John Wiley & Sons, Ltd., vol. 12(2), pages 125-138.
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