Self-control devices, such as rehabilitation programs, group commitment, and informal fines, can make time-inconsistent smokers better off. Health economists have used this result to argue in favor of cigarette taxes that restrain smoking. However, taxes alone are not Pareto-improving overall,...

Intellectual property rights are viewed as essential to medical innovation, but very often involve social costs due to patent monopolies and other inefficiencies. We review the positive theory of innovation in health care, as it relates to the determination of innovation demand and supply. The...

Policymakers and the public are concerned about the role of medical malpractice liability in the rising cost of medical care. We use variation in the generosity of local juries to identify the causal impact of malpractice liability on medical costs, mortality, and social welfare. The effect of...