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Or prizes. If the NPV of treating, say, stomach cancer is $5 billion, the parties involved can offer to pay a prize of $4.7 billion to someone who shows up wit
by danielweber 12y ago
Or prizes. If the NPV of treating, say, stomach cancer is $5 billion, the parties involved can offer to pay a prize of $4.7 billion to someone who shows up with a cure. Every party is better off in that scenario.
- spacehome 12y agoCures aren't really binary things. Something like "stomach cancer" is probably a whole bunch of (perhaps at present indistinguishable) diseases. Add to that that event amongst cures for the exact same malady, there can be differences in side effects, efficacy, and treatment length.
- pessimizer 12y agohttp://www.huffingtonpost.com/2012/05/19/bernie-sanders-prescription-drug-prices_n_1528332.html http://www.huffingtonpost.com/2012/05/19/bernie-sanders-pres... "Sanders has introduced legislation that would offer companies a big up-front prize for developing new, innovative AIDS drugs. In return for the big payday, pharmaceutical firms would agree to allow generic versions of their medicines to hit the market immediately. The fund would total $3 billion for its first year. "'Moving from a patent system to an effective prize system, using the power of the competitive marketplace to ensure the efficient dissemination of medicines, is a critical step in creating [a] more efficient innovation system,' Nobel Prize-winning economist Joseph Stiglitz said at Tuesday's hearing."