Articles by Asher Schechter:

Why is Medical Marijuana Still Not Accepted in All 50 States? Ask George Stigler

A new working paper by University of Georgia researchers shows that medical marijuana leads to sharp drops in the number of prescriptions for branded drugs.The paper estimates savings of up to $1.5 billion per year in Medicaid spending if medical marijuana was legalized in all 50 states. The ideas of the late University of Chicago economist George Stigler might offer a potential explanation of why this has not happened yet.  

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Are “Pay for Delay” Settlements in Patent Litigation Collusive?

A new study suggests that “pay for delay” settlements–in which generic drug manufacturers that challenge the patents of branded drug firms agree to drop their challenge in exchange for sharing monopoly profits—decrease generic entry, inflate prices, and depress the quantity of competitors in the market. It also finds that eliminating “pay for delay” settlements entirely would result in a relatively small reduction in R&D.  

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