Download This PaperTowards an Efficient Mechanism for Prescription Drug Procurement
37 Pages Posted: 17 Feb 2009 Last revised: 21 Mar 2021
Date Written: February 2009
Abstract
This paper applies ideas from mechanism design to model procurement of prescription drugs. We present a mechanism for government-funded market-driven drug procurement that achieves very close to full static efficiency -- all members have access to all but at most a single drug -- without distorting incentives for innovation.
Suggested Citation: Suggested Citation
Fong, Kyna and Schwarz, Michael, Towards an Efficient Mechanism for Prescription Drug Procurement (February 2009). NBER Working Paper No. w14718, Available at SSRN: https://ssrn.com/abstract=1344699
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