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Pharmaceutical market economics: Do public subsidies on pharmaceuticals cause their wasteful use
Petrmann, Milan ; Špecián, Petr (advisor) ; Koubek, Ivo (referee)
This diploma thesis deals with the question of whether do public subsidies cause wasteful use of pharmaceuticals, and if so then to what extent. The hypothesis is tested on the Czech republic data for the years 2005-2012. The biggest contributions are defining the health system as an intra-temporal problem, which tells us that lower values of discount rate implies higher level of wasteful use. I express the environmental issues, which are caused by unprofessional pharmaceutical disposal. You can find the price (-0,11), the income (-0,2) and the cross-price (-0,14) elasticity of demand for pharmaceuticals in the empirical part. These estimates are obtained with the help of the Kuhn-Tucker method. Using the 2OLS method Model 2 comes with the major findings. With 10% increase of public subsidies, consumers tend to waste 13,2% more pharmaceuticals.
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