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• Technical Note | HBS Case Collection | December 2019

  Technical Note on Bayesian Statistics and Frequentist Power Calculations

  Amitabh Chandra and Ariel Dora Stern

  This Technical Note provides an introduction to Bayes’ Rule and the statistical intuition that stems from it. In this note, we review the concepts that underlie Bayesian statistics, and we offer several simple mathematical examples to illustrate applications of Bayes’ Rule. Instructors can assign this note either as a standalone reading to familiarize students with Bayesian statistics or as a supplement to accompany “Adaptive Platform Trials: The Clinical Trial of the Future?” (HBS Case No. 618-025). This case introduces the concept of an adaptive platform clinical trial, in which Bayesian statistical methods are used to expedite the investigation and regulatory approval of promising new therapies, such as cancer treatments.

  Keywords: Bayesian statistics; Mathematical Methods;

  Citation:

  Chandra, Amitabh, and Ariel Dora Stern. "Technical Note on Bayesian Statistics and Frequentist Power Calculations." Harvard Business School Technical Note 620-032, December 2019.  View Details

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• Technical Note | HBS Case Collection | November 2019

  The Life Sciences Revolution: A Technical Primer

  Gary P. Pisano, William J. Anderson, Amitabh Chandra, Clarissa Ceruti and Stephanie Oestreich

  For more than two decades, scientific advances have been driving profound changes in drug discovery and the drug industry itself. This case provides an overview and description of these technical and scientific advances. Written for the nonscientific reader, it may be used as companion reading for other case materials that require basic knowledge of the tools, techniques, and approaches used in the pharmaceutical and biotechnology industries.

  Keywords: Science; Technological Innovation; Technology; Pharmaceutical Industry; Biotechnology Industry;

  Citation:

  Pisano, Gary P., William J. Anderson, Amitabh Chandra, Clarissa Ceruti, and Stephanie Oestreich. "The Life Sciences Revolution: A Technical Primer." Harvard Business School Technical Note 620-054, November 2019.  View Details

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• Article | Annals of the American Academy of Political and Social Science

  Economic Principles for Medicare Reform

  Amitabh Chandra and Craig Garthwaite

  In this article, we develop an economic framework for Medicare reform that highlights trade-offs that reform proposals should grapple with but often ignore. Central to our argument is a tension in administratively set prices, which may improve short-term efficiency but do so at the expense of dynamic efficiency (slowing innovations in new treatments). The smaller the Medicare program is relative to the commercial market, the less important this is; but in a world where there are no market prices or the private sector is very small, the task of setting prices that are dynamically correct becomes more complex. Reforming Medicare should focus on greater incentives to increase competition between Medicare Advantage plans, which necessitates a role for government in ensuring competition; premium support; less use of regulated prices; and less appetite for countless “pay for performance” schemes. We apply this framework to evaluate Medicare for All proposals.

  Keywords: Medicare; value-based care; health care reform; markets in health care; Health Care and Treatment; Value; Governing Rules, Regulations, and Reforms;

  Citation:

  Chandra, Amitabh, and Craig Garthwaite. "Economic Principles for Medicare Reform." Annals of the American Academy of Political and Social Science 686, no. 1 (November 2019): 63 – 92.  View Details

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