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Reference pricing with elastic demand for pharmaceuticals

2018Journal article Open access
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dc.contributor.authorGonçalves, Ricardo
dc.contributor.authorRodrigues, Vasco
dc.date.accessioned2016-12-13T17:46:07Z
dc.date.available2016-12-13T17:46:07Z
dc.date.issued2018
dc.description.abstractIn this paper, we re‐examine the properties of two commonly adopted government reimbursement schemes for pharmaceuticals: reference pricing and fixed percentage reimbursement. We depart from the previous literature by assuming that the individual demand is price‐sensitive and depends on the copayment rate (i.e., the part paid by each consumer). We obtain two novel results under reference pricing: first, as the copayment rate increases, so do pharmaceutical prices; second, this increase in pharmaceutical prices reduces social welfare. Whilst reference pricing does emerge as a preferable reimbursement scheme, demand elasticities and the copayment rate interact in complex ways. This leads (unexpectedly) to the possibility that a higher copayment rate (lower reimbursement rate) results in higher government expenditure.pt_PT
dc.description.versioninfo:eu-repo/semantics/acceptedVersionpt_PT
dc.identifier.citationGonçalves, R., & Rodrigues, V. (2018). Reference Pricing with Elastic Demand for Pharmaceuticals. The Scandinavian Journal of Economics, 120(1), 159–182. https://doi.org/10.1111/sjoe.12207pt_PT
dc.identifier.doi10.1111/sjoe.12207
dc.identifier.eid85039745828
dc.identifier.eissn1467-9442
dc.identifier.issn0347-0520
dc.identifier.urihttp://hdl.handle.net/10400.14/21026
dc.identifier.wos000419119200006
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherWiley
dc.relationStrategic Project - UI 731 - 2011-2012
dc.subjectPharmaceutical reimbursement schemespt_PT
dc.subjectCopayment ratespt_PT
dc.titleReference pricing with elastic demand for pharmaceuticalspt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.awardTitleStrategic Project - UI 731 - 2011-2012
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/3599-PPCDT/PTDC%2FEGE-ECO%2F100296%2F2008/PT
oaire.awardURIinfo:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/PEst-OE%2FEGE%2FUI0731%2F2011/PT
oaire.citation.endPage182
oaire.citation.issue1
oaire.citation.startPage159
oaire.citation.titleScandinavian Journal of Economics
oaire.citation.volume120
oaire.fundingStream3599-PPCDT
oaire.fundingStream6817 - DCRRNI ID
person.familyNameGonçalves
person.familyNameRodrigues
person.givenNameRicardo
person.givenNameVasco
person.identifier.ciencia-id961B-2928-7C07
person.identifier.ciencia-id0F16-A0B2-47B9
person.identifier.orcid0000-0002-8457-4479
person.identifier.orcid0000-0001-6991-2129
person.identifier.ridB-6098-2009
person.identifier.scopus-author-id36243474900
person.identifier.scopus-author-id7101600493
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.identifierhttp://doi.org/10.13039/501100001871
project.funder.nameFundação para a Ciência e a Tecnologia
project.funder.nameFundação para a Ciência e a Tecnologia
rcaap.rightsopenAccesspt_PT
rcaap.typearticlept_PT
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relation.isAuthorOfPublicationeaaa6a14-e736-4af9-8028-e1683d8d7fe1
relation.isAuthorOfPublication.latestForDiscovery6f337277-3584-41cc-b631-3a9d222e9e01
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