Pharmaceutical innovation collaboration, evaluation, and matching

IF 3.4 2区 经济学 Q1 ECONOMICS Journal of Health Economics Pub Date : 2024-09-11 DOI:10.1016/j.jhealeco.2024.102922
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Abstract

This paper theoretically studies pharmaceutical innovation collaborations, where heterogeneous firms compete for heterogeneous academics. At an interim stage, the firm evaluates the project, which allows it to monitor academics and decide whether to terminate the project to avoid the loss from a future failure. This paper explores the contract, project termination strategy, and collaboration matching. The firm’s innovation strategy (exploitations or explorations) determines the evaluation structure, which may affect the market equilibrium. By considering different innovation strategies, this paper shows that in each case, the equilibrium matching is unique (either positive or negative assortative). Consequently, the chosen innovation strategy plays a pivotal role in shaping equilibrium matching outcomes. These findings provide theoretical insights into pharma-academic alliances, shed light on the observed positive or negative assortative properties in the market, and advocate for the consideration of innovation strategies and evaluation structures in future research endeavors. Moreover, this paper also provides several empirical and policy implications.

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医药创新合作、评估和匹配
本文从理论上研究了医药创新合作,在这种合作中,异质企业争夺异质学者。在中期阶段,企业会对项目进行评估,从而对学者进行监督,并决定是否终止项目,以避免未来失败带来的损失。本文探讨了合同、项目终止策略和合作匹配。企业的创新战略(开发或探索)决定了评估结构,而评估结构可能会影响市场均衡。通过考虑不同的创新战略,本文表明,在每种情况下,均衡匹配都是唯一的(要么是正向匹配,要么是负向匹配)。因此,所选择的创新战略在形成均衡匹配结果方面起着举足轻重的作用。这些发现提供了对医药-学术联盟的理论见解,揭示了市场中观察到的正向或负向同配特性,并倡导在未来的研究工作中考虑创新战略和评估结构。此外,本文还提供了一些经验和政策方面的启示。
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来源期刊
Journal of Health Economics
Journal of Health Economics 医学-卫生保健
CiteScore
6.10
自引率
2.90%
发文量
96
审稿时长
49 days
期刊介绍: This journal seeks articles related to the economics of health and medical care. Its scope will include the following topics: Production and supply of health services; Demand and utilization of health services; Financing of health services; Determinants of health, including investments in health and risky health behaviors; Economic consequences of ill-health; Behavioral models of demanders, suppliers and other health care agencies; Evaluation of policy interventions that yield economic insights; Efficiency and distributional aspects of health policy; and such other topics as the Editors may deem appropriate.
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