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Essays on product liability and medi...

Sun, Eric Chung.

Essays on product liability and medical markets.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on product liability and medical markets.
Author:	Sun, Eric Chung.
Description:	114 p.
Notes:	Advisers: Tomas Philipson; Robert Topel; Jonathan Guryan; David Meltzer.
Notes:	Source: Dissertation Abstracts International, Volume: 67-11, Section: A, page: 4277.
Contained By:	Dissertation Abstracts International67-11A.
Subject:	Economics, General.
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3240132
ISBN:	9780542950742

Essays on product liability and medical markets.
Sun, Eric Chung.

Essays on product liability and medical markets. - 114 p.

Advisers: Tomas Philipson; Robert Topel; Jonathan Guryan; David Meltzer.

Thesis (Ph.D.)--The University of Chicago, 2006.

Empirically, I examine the market for childbirths and find that hospitals tend to pass along increases in liability costs to consumers in the form of higher prices. Accordingly, damage caps can increase welfare by lowering prices, although I find that the welfare gains, as a fraction of the amount spent on births, may be small. I also find that physician location decisions are sensitive to changes in malpractice premiums, particularly among younger physicians in office-based practices. Thus, damage caps may enhance care by recruiting more physicians to a given area.

ISBN: 9780542950742Subjects--Topical Terms:

212429
Economics, General.

Essays on product liability and medical markets.
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100 0 $a Sun, Eric Chung. $3 264275
245 1 0 $a Essays on product liability and medical markets.
300 $a 114 p.
500 $a Advisers: Tomas Philipson; Robert Topel; Jonathan Guryan; David Meltzer.
500 $a Source: Dissertation Abstracts International, Volume: 67-11, Section: A, page: 4277.
502 $a Thesis (Ph.D.)--The University of Chicago, 2006.
520 # $a Empirically, I examine the market for childbirths and find that hospitals tend to pass along increases in liability costs to consumers in the form of higher prices. Accordingly, damage caps can increase welfare by lowering prices, although I find that the welfare gains, as a fraction of the amount spent on births, may be small. I also find that physician location decisions are sensitive to changes in malpractice premiums, particularly among younger physicians in office-based practices. Thus, damage caps may enhance care by recruiting more physicians to a given area.
520 # $a Finally, in a somewhat unrelated topic, I examine the presence of brand loyalty among prescription drugs. Brand loyalty occurs when patients who use one brand of drugs in a given class are more likely to use that brand of drug in another class. I find substantial evidence of brand loyalty, indeed, for some Merck drugs, brand loyalty could account for 1/3 of Merck's market share. These findings suggest that further research should examine the consequences and causes of brand loyalty.
520 # $a Recent increases in malpractice premiums have received much attention from policy makers and the popular press. The belief that that increases in liability have led to increased costs and prices has led policymakers to consider several liability reforms, such as caps on non-economic damages. In this thesis, I conduct a theoretical and empirical analysis of damage caps. Theoretically, I find two rationales for damage caps. First, under market power, damage caps can serve to lower costs and prices. While damage caps may also increase the harm done to patients by reducing incentives to provide safe care, in general, at least some sort of damage cap will increase welfare. Second, even without market power, damage caps may be justified because juries seldom take into account the full costs of awarding damages. In essence, this is the "Samaritan's Dilemma": ex post, juries are willing to be inefficiently altruistic to consumers, so damage caps increase efficiency by serving as ex ante restrictions on jury behavior.
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790 1 0 $a Meltzer, David, $e advisor
790 1 0 $a Philipson, Tomas, $e advisor
790 1 0 $a Topel, Robert, $e advisor
791 $a Ph.D.
792 $a 2006
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