Coordinating on lower prices: pharmaceutical pricing under political pressure
研究1990年代初美国医疗改革期间，制药企业如何因应未来价格管制风险而协调涨价幅度，以规避政府干预。
We investigate the effects of political activity on pharmaceutical prices, focusing on the health care reform period in the early 1990s. We characterize firms based on their vulnerability to future price regulation and find that the more vulnerable firms were more likely to take various actions to forestall regulation, most notably coordinating on a specific percentage price increase during 1993. Since moderating price increases could have averted regulation, the coordination appears to be the industry's response to a collective action problem .