Healthcare Markets: The Evolution of Regulation, Competition, and Innovation

Now more than ever before, not only medical issues but also economic and social issues influence how health care is organized, governed, financed, and delivered.

Our empirical research advances understanding of the economics and regulation of the health care industry, with an emphasis on the biopharmaceutical and medical device industries. Faculty researchers examine a variety of issues, most typically around firm, industry, and regulatory organization and performance. Past and ongoing research includes the speed of drug development, sales and promotion strategies during adverse regulatory events, regulatory compliance, health care payment reform, and the effect of eHealth on health behaviors and outcomes. Some research projects entail the development and analysis of proprietary data, while others are conducted in collaboration with the U.S. Food and Drug Administration (FDA), the Centers for Medicare and Medicaid Services (CMS), and the Centers for Disease Control and Prevention (CDC).

Principal Investigator and Convener: Jeffrey Macher



Yunan Ji

Jeffrey Macher

  • “Regulator Heterogeneity and Endogenous Efforts to Close the Information Asymmetry Gap.” Journal of Law and Economics, 2011
  • “Technological Development at the Boundaries of the Firm: A Knowledge-Based Examination in Drug Development.” Strategic Management Journal 2012
  • “An Innovation Silver Lining: Product Recalls and New Product Submissions in the Medical Device Industry.” (working paper).

Anita Rao

  • “Industry-funded Research and Bias in Food Science,” Quantitative Marketing and Economics, 2022.
  • “Deceptive Claims using Fake News Advertising: The Impact on Consumers,” Journal of Marketing Research, 2022
  • “Do Made in USA Claims Matter?,” Marketing Science, 2021.


Yunan Ji

Anita Rao

  • “Information or Obfuscation? The case of the “no High Fructose Corn Syrup” label”
    Stanford GSB Quant Marketing Alumni Conference, Apr 2022
  • “Debunking Misinformation in Advertising” 
    McDonough School of Business, Georgetown University, Nov 2021
  • “Industry-funded Research and Bias in Food Science”
    Mendoza College of Business, University of Notre Dame, Oct 2021

Jeffrey Macher

  • “Recalls and New Product Development: Own Firm Distractions and Competitor Firm Opportunities”
    University of North Carolina (Kenan-Flagler) Strategy & Entrepreneurship Seminar, 2021
    University of Utah (Eccles School of Business) Strategy Seminar (MAR 2020)
  • “When is Organization Inefficient? A Knowledge-Based Examination in Medical Device Manufacturing,”
    Industry Studies Association (ISA) Conference (2020)
  • “Does the Internet Improve Consumer Healthcare Behaviors?”
    University of Pennsylvania — Leonard Davis Institute Seminar Series (2018)


Health Leaders Media reported on Center Scholar Yunan Ji’s study on hospital characteristics associated with price transparency compliance
June 29, 2022

The Daily Mail reported on the problem with sponsored research in assigning the ‘healthy foods’ label citing Center Scholar Anita Rao’s study
July 4, 2022

Forbes’ article entitled ‘Why Companies Should Try Harder To Prevent Product Recalls’ cited the research of the Center’s Jeffrey Macher on the effect of product recalls on innovation
March 7, 2019