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The doubling of obesity in the U.S. over the last 25 years has led policymakers and physicians to encourage weight loss, but few methods of weight loss are effective. One promising avenue is pharmacotherapy. However, little is known about the use of anti-obesity drugs. This paper describes the market for anti-obesity drugs and studies the utilization of anti-obesity drugs using data from the Medical Expenditure Panel Survey for 1996–2002, a period that is interesting because it covers the introduction of three, and the withdrawal of two, anti-obesity drugs from the market.

Our results point to wide sociodemographic disparities in anti-obesity drug use. Women are almost 200% more likely than men to use anti-obesity drugs. Hispanics and African-Americans are only 39% as likely as Whites to use them. Those with prescription drug coverage are 46% more likely to use anti-obesity drugs.

We also find that the vast majority of subjects who are approved to take these drugs are not taking them, and a significant number who are not approved to take the drugs are taking them. We find strong evidence that the well-publicized 1997 withdrawal of fenfluramine and dexfenfluramine had a chilling effect on the overall market for anti-obesity drugs. We find little difference in observed characteristics between those who took the withdrawn drugs and those who took the other anti-obesity drugs in the market.

Purpose – To examine how drug prices for specific diseases vary across payers in the United States and how insurer and patient out-of-pocket (OOP) costs vary by payer type.

Methodology – This study uses data from the Medical Expenditure Panel Survey (MEPS) from 1996 to 2006. We estimate multivariate price regressions for four major drug product classes (antihypertensive, antidepressant, antiasthma drugs, and non-steroidal anti-inflammatory drugs (NSAIDs)). Separate models are estimated for brand and generic drugs within each of these drug product classes. In addition to estimating overall transaction price equations for brands and generics, the study estimates patient OOP payments and insurer payments for drugs.

Findings – We find relatively modest differences among payers in terms of total prices (e.g., insurer plus OOP). The main difference is in terms of how prices were shared between insurers and patients. Medicaid paid significantly more than other payers for each drug class, while Medicaid beneficiaries paid significantly less.

Research implications – Our results shed light on how drug prices vary by different payers and how drug prices are shared by third party payers and patients. The relatively modest differences in total drug prices across payer type suggest that these payers do not differ greatly in terms of their ability to negotiate price concessions from their suppliers. Instead, larger differences emerge in terms of how total costs are shared among the payer and their patients. Understanding the reasons for these variations, and their implications for health outcomes, are important directions for further research.

Several high-profile prescription drugs have been withdrawn from the U.S. market in the last decade, yet there is no direct evidence of how a prescription drug withdrawal affects consumers’ use of remaining drugs within the same therapeutic class. In theory, remaining drugs in the therapeutic class could enjoy competitive benefits or suffer negative spillovers from the withdrawal of a competing drug. Using the Medical Expenditure Panel Survey, we test for spillovers following prescription drug withdrawals in six therapeutic classes between 1997 and 2001. Results vary, but we find stronger evidence of negative spillovers than competitive benefits. We conclude with a discussion of the characteristics of drugs and classes that may influence how remaining drugs are affected by a withdrawal in the class.

Five papers in the volume use economic models to predict obesity and related behaviours. Two of the papers are theoretical. Liqun Liu, Andrew J. Rettenmaier, and Thomas R. Saving analyse the importance of food quality for bodyweight. Bodyweight is treated as a variable of choice – the individual derives utility from health, food consumption and consumption of a composite good. Bodyweight is assumed to decrease health whenever it differs from its physiologically optimal level. Their model implies that much of further income growth will be used to improve food quality rather than increase caloric intake.

This paper aims to improve the scene sense of a virtual scene, the welding model of a virtual reality system of riser automatic equipment was constructed using Unity3D and UG software, which mainly included a welding car, welding guide rail, welding power supply, virtual camera and other equipment and the model was rendered.

The human-computer interaction page and simulation test of the system was produced using the user interface GUI system for creating a human-computer interaction scene. The operator could capture the welding status of the physical equipment accurately and in real-time so the virtual reality technology was very suitable for the remote monitoring operation integrated with the welding system.

Human-computer interaction design and collision detection were realized. In addition, the system simulation experiment was accomplished. With the continuous improvement and development of virtual reality technology real-time virtual simulation and monitoring, technology will become the main development trend.

Based on virtual reality, the monitoring system can capture the operation status of physical welding equipment in real-time and accurately, which is very suitable for remote monitoring operation integrated with the welding system and also conducive to improving the monitoring level of the welding process.

This technology is time-saving and money-saving, for the operators do not have to be in a real welding environment and therefore they can get away from dangerous places. Consequently, it can avoid unnecessary injuries and problems.

This technology can replace people to enter the dangerous and extreme environment to carry out welding operation, so it becomes the most effective means of nuclear power plant maintenance, space structure construction and marine engineering construction. In addition, it is time-saving and money-saving.

With the rapid development of virtual reality technology in recent years, it is a new research direction to apply virtual reality technology to the remote welding operation. This technology is different from the traditional way of welding for the operators can stay away from the welding scene especially some dangerous places.

This chapter provides a comprehensive survey of the contributions of the Austrian school of economics, with specific emphasis on post-WWII developments. We provide a brief history and overview of the original theorists of the Austrian school in order to set the stage for the subsequent development of their ideas by Ludwig von Mises and F. A. Hayek. In discussing the main ideas of Mises and Hayek, we focus on how their work provided the foundations for the modern Austrian school, which included Ludwig Lachmann, Murray Rothbard and Israel Kirzner. These scholars contributed to the Austrian revival in the 1960s and 1970s, which, in turn, set the stage for the emergence of the contemporary Austrian school in the 1980s. We review the contemporary development of the Austrian school and, in doing so, discuss the tensions, alternative paths, and the promising future of Austrian economics.

The purpose of this paper is to explore and identify the causes of the failure of the Larkin Company (Buffalo, NY), once one of the nation's largest mail‐order houses in the decades surrounding 1900.

Borrowing conceptual frameworks from both recent management and historical scholarship on organizational failure that integrates exogenous and endogenous factors, this study employs traditional historical methods to explain the causes of Larkin's failure. The main primary sources include the Larkin Company records, government documents, personal papers, trade journals, and other primary sources.

Begun as a modest soap manufacturer by John D. Larkin, in Buffalo, in 1875, the Larkin Company grew to become one of the largest mail‐order houses in the USA in the decades surrounding 1900 owing to its innovative direct marketing practices, called the “factory‐to‐family” plan, that relied on unpaid women to distribute its products. In 1918, anticipating the chain store boom, Larkin established two grocery store chains (other retail ventures followed). The company regularly lost money in these ventures and, combined with a shrinking mail‐order economy, struggled during the 1920s and 1930s, and eventually liquidated in 1941‐1942. A number of exogenous and endogenous factors, acting alone and in various combinations, proved too challenging to second‐ and third‐generation family members who ran the company after 1926.

This research paper tries to understand the decline of an important progressive firm during the interwar period. Whereas Sears Roebuck and Montgomery Ward were able to make the transition from mail order to stores, Larkin Company failed to navigate this transition successfully. It also adds to the small but important literature in management and business history on organizational failure and may serve as a cautionary tale for family businesses.