Reference pricing of pharmaceuticals
比较了三种药品定价政策（通用名参考定价、治疗参考定价和无参考定价）对市场竞争、药品价格、新药上市和患者健康风险的影响，发现治疗参考定价下竞争最强、价格最低，但新药上市可能性也最低；通用名参考定价则导致患者健康风险最高。
We consider a therapeutic market with potentially three pharmaceutical firms. Two of the firms offer horizontally differentiated brand-name drugs. One of the brand-name drugs is a new treatment under patent protection that will be introduced if the profits are sufficient to cover the entry costs. The other brand-name drug has already lost its patent and faces competition from a third firm offering a generic version perceived to be of lower quality. This model allows us to compare generic reference pricing (GRP), therapeutic reference pricing (TRP), and no reference pricing (NRP). We show that competition is strongest under TRP, resulting in the lowest drug prices (and medical expenditures). However, TRP also provides the lowest profits to the patent-holding firm, making entry of the new drug treatment least likely. Surprisingly, we find that GRP distorts drug choices most, exposing patients to higher health risks.