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Multi-agent production equilibrium models with expansion
Get PDFThis thesis is concerned with a multi-agent equilibrium expansion model where agents are faced with an exogenous stochastic constant elasticity demand function. Producers simultaneously decide their production schedule, via a sequential equilibrium market clearing condition, as well as their optimal expansion schedule which is formulated as the solution of a singular stochastic control problem. In particular, agents take into account both the fact that their expansion has an adverse effect to the price and also the effect of their actions on the rest of the agents. For every agent, the value function and the optimal control process is determined and a Nash equilibrium for the market is established. The problem is divided into two sections, the monopolist case, where a single agent dominates the market and the competitive case in which all agents form a price-taking continuum, and the problem takes the form of a mean-field stochastic differential game. In both cases the value function as well as the control is calculated in closed form. In a different topic using an implicit numerical scheme and under mild conditions we recover, in a compact way, the optimal weak convergence rate for a Cox–Ingersoll–Ross (CIR) process despite the fact that the coefficients of the underlying Stochastic differential equation are not Lipschitz
The rise of drug innovation in China - implications for patient access in the United States and globally
Get PDFThe ‘us’ and ‘them’ that old age can create
Get PDFDidier Eribon‘s memoir, The Life, Old Age, and Death of a Working-Class Woman was prompted by the occasion of his mother being moved into a nursing home when she could no longer care for herself. The resulting book, rooted in autobiographical reflection and influenced by the work of Foucault, Elias and Beauvoir on old age, is a nuanced, frank interrogation of how class and gender interact to shape a person’s experience of old age, writes Mary Evans
CO109 Evaluating the lifetime incremental value of pharmaceutical innovation: the case of non-small cell lung cancer
No full textObjectives Decision-makers often undervalue pharmaceutical innovation, as new treatments tend to offer modest benefits. However, lifetime approaches to assess the benefit of innovation can suggest significant long-term survival improvements. We assessed treatment modalities for non-small cell lung cancer (NSCLC) to demonstrate the incremental value of treatment innovation in the UK. Methods The methodology comprised two distinct phases: First, we identified all medicinal products for NSCLC that received marketing authorisation (MA) from the European Medicines Agency (1995-2024). A literature search and clinician validation allowed characterisation of the drugs into "innovation waves” based on year of approval and treatment technology. NICE technology appraisals were used to establish UK reimbursement status for the identified drugs. Subsequently, we systematically identified the relevant randomised clinical trials used in the MA submissions for the identified products and captured relevant endpoints including overall- and progression free survival and their associated performance, line of therapy and eligible population. Results 36 NSCLC products were approved between 1995 and 2024; these were categorised across three innovation ‘waves’: (a) chemotherapy products; (b) targeted therapies for specific NSCLC genetic mutations; (c) immunotherapy products. Preliminary results indicate that chemotherapy dominated treatment before the mid-2000s. Whilst not replacing chemotherapy, successive innovation waves became more targeted as mutations related to NSCLC were identified and investigated from mid-2005 onwards. Examples include drugs for patients with mutations in EGFR and ALK genes such as osimertinib and crizotinib. Immunotherapies like bevacizumab also began to be introduced in the same time period. Drugs in innovation waves two and three tended to be introduced as later line therapies for patients whose previous therapies had failed and offered significant additional survival and quality of life (QoL) benefits. Conclusions Significant technological changes occurred in the past 30 years to advance NSCLC treatment, offering survival and QoL benefits. Decision-makers should adopt a life-time approach to valuing innovation
HPR40 Building risk-sharing agreements in Chile: feasibility and policy options
No full textObjectives Chile faces significant financial challenges due to the rising costs of innovative therapies. Although the Ricarte Soto Law provides a dedicated fund for high-cost treatments, expanding coverage has outpaced budgets, causing variable access and fiscal pressure. With real-world effectiveness often uncertain post-trial, risk-sharing agreements (RSAs) offer a mechanism to balance cost containment and clinical uncertainty. We evaluate RSA feasibility by identifying key barriers, facilitators, and provide recommendations for decision-makers. Methods International literature review was conducted together with a comprehensive assessment of Chile’s legal, regulatory, procurement, and HTA frameworks. In-depth interviews were conducted with key decision-makers and private institutions to identify principal barriers and enabling conditions in order to inform targeted policy recommendations to support the implementation of RSAs. Results Stakeholder interviews and literature review revealed several key barriers to implementing RSAs in Chile: absence of a standardized negotiation framework; institutional inefficiencies; procurement and payment regulations that lack flexibility for extended or outcome-linked agreements; data gaps in epidemiology and patient registries; and mandatory public pricing disclosures. These factors impede the scalability of RSA models in high-need areas such as oncology and rare diseases. In terms of policy options, by systematically linking payment to measurable outcomes, RSAs can incentivize ongoing data collection and strengthen collaboration, enhancing health system resilience. A focused implementation of RSA pilots in areas with high unmet need can generate operational insights on aligning evidence generation, stakeholder incentives, and regulatory processes. These learnings will support the development of a flexible, evidence-driven reimbursement framework that balances clinical benefit with economic sustainability. Conclusions Adopting RSAs in Chile could create a more responsive reimbursement environment by embedding risk-adjusted contracts into standard practice. RSAs enable continuous policy adjustments informed by emerging real-world data and promote collaborative decision-making among payers, providers, and manufacturers
Can virtual reality enhance scope sensitivity? experimental evidence from the Amazon Rainforest
No full textGiven the Amazon Rainforest’s ecological importance, accurately valuing its conservation benefits is critical for informed policy decisions. This study compares the efficacy of using immersive virtual reality (VR) and high-quality video presentations to elicit ‘willingness to pay’ (WTP) for conservation activities in the Amazon Rainforest. It examines whether VR elicits valuations of conservation benefits that are sensitive to the scope or scale of conservation (‘scope-sensitive valuations’), and whether any benefits justify its higher cost. It also explores variations within responses to VR to identify experiential factors, such as feeling present in the environment or feeling physically uncomfortable, that moderate scope sensitivity. The study finds that high-quality video presentations generate scope-sensitive willingness to pay (WTP) for Amazon Rainforest conservation as effectively as immersive VR, while offering greater accessibility and lower cost than VR
Migration and mobile rights: activism, racial justice, and human rights from below
No full textMigrant activism is key in today’s world, where countries in the Global North employ border regimes to reinforce racial hierarchies, limit freedom of movement, and exploit migrant labour. But how do migrant-led movements engage with human rights - do they see them as limited tools, or as frameworks that can be reimagined in the fight for border justice? In this compelling study, Perolini critically examines the various ways migrants challenge these border regimes, and highlights the transformative potential of constructing human rights from below, moving beyond the state and legal norms. Drawing on rich ethnographic research in Berlin, the book offers a fresh and provocative perspective on the intersections of migrant activism, human rights, and racial and border justice
Social protection floor gaps and pandemic relief: embracing universalism?
No full textThe expansion of social protection measures due to the COVID-19 pandemic sparked new debates concerning targeted versus universalist approaches. This study focuses on how social protection coverage before the pandemic influences the extent of targeted versus universalist pandemic relief. It offers new insights regarding patterns in policy design, regarding beneficiaries and programme types drawing on the policy mix of crisis relief. Therefore, it uses two datasets: the COVID-19 Stimulus Tracker and the Social Protection Floor Index. Combined, they provide information about financing gaps for social protection floors before the pandemic and on countries’ specific pandemic relief. An association is estimated between social protection floor indexes and the share of universal policy measures and compared across different scopes of social protection. The findings offer first reflections on the extent to which pre-existing systems matter and may inform the design of shock-responsive social protection going forward
“Ignorance and Bliss. On Wanting Not to Know” by Mark Lilla
No full textRecensione a: Mark Lilla, Ignorance and Bliss. On Wanting Not to Know , C. Hurst and Company, London 2024, pp. 256, 27 US
