Agency theory, drug formularies, and drug product selection: Implications for public policy

David A. Mott, Jon C. Schommer, William R. Doucette, David H. Kreling

Research output: Contribution to journalArticlepeer-review

15 Scopus citations

Abstract

The authors describe the pharmaceutical utilization system and present the conceptual framework for agency theory. They then apply agency theory to the selection of pharmaceuticals and the role of drug formularies in drug selection. The use of drug formularies can increase the goal conflict and uncertainty related to the selection of drug products. The authors address public policy and research directions to suggest ways of reducing the level of goal conflict and uncertainty associated with drug selection. Recognition of agency relationships and the environment surrounding agency relationships appear to be important for the development and analysis of future policy regarding selection decisions pertaining to pharmaceuticals.

Original languageEnglish (US)
Pages (from-to)287-295
Number of pages9
JournalJournal of Public Policy and Marketing
Volume17
Issue number2
DOIs
StatePublished - 1998

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