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

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  • Marcello Basili

    ()

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.

Suggested Citation

  • Marcello Basili, 2008. "The global strategy to cope with H5N1: the property rights caveat," Department of Economic Policy, Finance and Development (DEPFID) University of Siena 0908, Department of Economic Policy, Finance and Development (DEPFID), University of Siena.
  • Handle: RePEc:usi:depfid:0908
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    File URL: http://repec.deps.unisi.it/depfid/text908.pdf
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    References listed on IDEAS

    as
    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.
    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.
    3. Thibault Gajdos & Jean-Marc Tallon & Jean-Christophe Vergnaud, 2005. "On the impossibility of preference aggregation under uncertainty," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00193578, HAL.
    4. Chichilnisky, Graciela & Heal, Geoffrey, 1998. "Managing unknown risks: the future of global reinsurance," MPRA Paper 8820, University Library of Munich, Germany.
    5. Tversky, Amos & Wakker, Peter, 1995. "Risk Attitudes and Decision Weights," Econometrica, Econometric Society, vol. 63(6), pages 1255-1280, November.
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    More about this item

    Keywords

    avian flu; ambiguity; incomplete rights; market failure.;

    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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