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Designing the financial tools to promote universal access to AIDS care

  • Leoni, Patrick
  • Luchini, Stéphane

Abstract We argue that reluctance to invest in drug treatments to fight the AIDS epidemics in developing countries is largely motivated by severe losses occurring from the future albeit uncertain appearance of a curative vaccine. We design a set of securities generating full insurance coverage against such losses, while achieving full risk-sharing with vaccine development agencies. In a General Equilibrium framework, we show that those securities are demanded to improve social welfare in developing countries, to increase current investment in treatments and the provision of public goods. Even though designed for AIDS, those securities can also be applied to other epidemics such as malaria and tuberculosis, as well as any innovative treatment to fight orphan diseases.

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File URL: http://www.sciencedirect.com/science/article/B6V8K-51FNP6D-1/2/a8897d832ad7187bcefe6e3ceb810b0d
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Article provided by Elsevier in its journal Journal of Health Economics.

Volume (Year): 30 (2011)
Issue (Month): 1 (January)
Pages: 181-188

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Handle: RePEc:eee:jhecon:v:30:y:2011:i:1:p:181-188
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/505560

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  1. Palmer, Stephen & Smith, Peter C., 2000. "Incorporating option values into the economic evaluation of health care technologies," Journal of Health Economics, Elsevier, vol. 19(5), pages 755-766, September.
  2. Lasserre, Pierre & Moatti, Jean-Paul & Soubeyran, Antoine, 2006. "Early initiation of highly active antiretroviral therapies for AIDS: Dynamic choice with endogenous and exogenous learning," Journal of Health Economics, Elsevier, vol. 25(3), pages 579-598, May.
  3. Kremer, Michael R. & Miguel, Edward & Thornton, Rebecca, 2009. "Incentives to Learn," Scholarly Articles 3716457, Harvard University Department of Economics.
  4. Avinash Dixit, 2003. "Some Lessons from Transaction-Cost Politics for Less-Developed Countries," Economics and Politics, Wiley Blackwell, vol. 15(2), pages 107-133, 07.
  5. repec:cup:cbooks:9780521586054 is not listed on IDEAS
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