Pharmaceutical Price Discrimination and Social Welfare
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Lichtenberg, Frank R (2010) Pharmaceutical Price Discrimination and Social Welfare. Capitalism and Society, 5 (1). pp. 1-29. ISSN 1932-0213
Abstract
Price discrimination is an extremely common type of pricing strategy engaged in by virtually every business with some discretionary pricing power. The issue of whether price discrimination reduces or increases social welfare has been considered by economists since at least 1920. At that time, it was demonstrated that, under certain (restrictive) conditions, price discrimination will reduce social welfare. Subsequent research has shown that price discrimination can increase social welfare, and that a necessary (but not a sufficient) condition for welfare to rise is that total output with discrimination exceeds the no-discrimination level.
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| Item type | Article |
| URI | https://vuir.vu.edu.au/id/eprint/6976 |
| DOI | 10.2202/1932-0213.1066, |
| Official URL | http://www.degruyter.com/view/j/cas.2010.5.1/cas.2... |
| Subjects | Historical > FOR Classification > 1402 Applied Economics Historical > SEO Classification > 9402 Government and Politics Historical > Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES) |
| Keywords | ResPubID20935, pharmaceutical prices, price discrimination, social welfare |
| Citations in Scopus | 9 - View on Scopus |
| Download/View statistics | View download statistics for this item |
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