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  • Harsh Gupta

    Department Seminar Series

    Price Controls with Imperfect Competition and Choice Frictions: Evidence from Indian Pharmaceuticals

    TUES 25 NOV 1PM - 2PM

    Join Harsh as he analyses how common market failures- market power and choice frictions-shape the welfare effects of a large-scale pharmaceutical price control policy in India.

    The policy reduced regulated product prices by 24% and increased sales by 36%, with little impact on entry and exit.

    Standard welfare analysis shows significant consumer and social welfare gains, as price caps correct monopoly distortions. However, using a survey of doctors' drug choices, we show that consumers overvalue regulated products, implying 30% lower true consumer surplus gains and a decline in social welfare. We assess alternative price and non-price regulations that address both market failures.

    Speaker:

    Harsh Gupta is a postdoctoral scholar at the Ellison Institute of Technology, Oxford.

    Harsh applies and develops tools from Industrial Organization and applied microeconomics to study healthcare markets. His recent work investigates pharmaceutical pricing policy, (lack of) diversity in clinical trials, and the diffusion of novel scientific information.

    In August 2026, Harsh will join the Department of Economics at the London School of Economics as an Assistant Professor.

    Harsh received his doctoral degree from Stanford University.

    How to join:

    For in-person attendance: attendance is on a first-come, first-served basis in COW.1.11

    For online attendance: please register via here: http://bit.ly/42RhAwt