Is the Food and Drug Administration Safe and Effective?
---- Acknowledgements -----
We are thankful to Steven Garber at RAND and seminar participants at The University of Chicago, RAND and the 2007 IHEA Meetings in Copenhagen for comments. Philipson served as Senior Economic Advisor to the Commissioner of the FDA from 2003-2004, but all views expressed in this paper represent the views of the authors and do not necessarily reflect the views of the FDA. We are grateful to the Bing Center for Health Economics and the Institute for Civil Justice at the RAND Corporation, as well as the Chicago Center for Excellence in Health Promotion Economics and the George J. Stigler Center for Study of Economy and the State at the University of Chicago, for financial support. Sun also thanks the Medical Scientist Training Program at the University of Chicago Pritzker School of Medicine for financial support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.