Financial Conflicts of Interest in Medicine *

  title={Financial Conflicts of Interest in Medicine *},
  author={Joseph Engelberg and Christopher A. Parsons and Nathan Tefft},
We use the geographic distance between a doctor’s office and drug company headquarters to instrument for the likelihood of pecuniary transfers, such as meals or speaking fees. Doctors tilt prescriptions in favor of the paying firm’s drugs, shifting away from both branded and generic substitutes. Larger transfers cause larger shifts in prescriptions. We explore two potential explanations: 1) information flow (or its perception), and 2) rent seeking. Payments increase prescriptions of branded… CONTINUE READING


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