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KMID : 1170320080140010127
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Korean Journal of Health Economics and Policy
2008 Volume.14 No. 1 p.127 ~ p.150
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Effect of DTCA in pharmaceutical industry on Physician-patient relationship -Game theoretic approach
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Kim Dae-Jung
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Abstract
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We study the impact of Direct to Consumer Advertising(DTCA) on the physician-patient relationship when the physician’s interests do not coincide with those of his patients. We use the incomplete information model and characterize the equilibrium by using Perfect Bayesian Equilibrium(PBE) concept. We are interested in the equilibrium level of honesty in the model. We found that the rise in the level of general information on the drug treatment, patient’s health status, etc, via DTCA can increase the fraudulent behavior of physician and detrimental to welfare.
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KEYWORD
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Direct to Consumer Advertising(DTCA), game theory, Perfect Bayesian Equilibrium, Physician-patient relationship
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