| 000 -LEADER |
|---|
| fixed length control field |
01280nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
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| fixed length control field |
200904b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Grennan, Matthew, and Town, Robert J. |
| 245 ## - TITLE STATEMENT |
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| Title |
Regulating innovation with uncertain quality: information, risk, and access in medical devices |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Place of publication, distribution, etc |
American Economic Review |
| 300 ## - PHYSICAL DESCRIPTION |
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| Extent |
110(1), Jan 2020. p.120-61 |
| 520 ## - SUMMARY, ETC. |
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| Summary, etc |
We study the impact of regulating product entry and quality information requirements on an oligopoly equilibrium and consumer welfare. Product testing can reduce consumer uncertainty, but also increase entry costs and delay entry. Using variation between EU and US medical device regulations, we document patterns consistent with valuable learning from more stringent US requirements. To derive welfare implications, we pair the data with a model of supply, demand, and testing regulation. US policy is indistinguishable from the policy that maximizes total surplus in our estimated model, while the European Union could benefit from more testing. "Post-market surveillance" could further increase surplus. |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Consumer protection - United States, Market Structure, Pricing |
| 9 (RLIN) |
17571 |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
American Economic Review |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
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| Subject DIP |
CONSUMPTION - UNITED STATES |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Item type |
Articles |
