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Innovation Adoption by Committee: Evaluating Decision-Making in the FDA

Author

Listed:
  • Nathan J. Canen
  • Matias Iaryczower

Abstract

The FDA is responsible for the approval of new drugs, biological products and medical devices in the United States. As part of the approval process, the FDA relies on advisory committees, which provide independent advice from outside experts. We combine a structural approach with newly collected data from meetings' transcripts to study the process of collective learning and policy recommendation in advisory committees. We quantify the effectiveness of advisory panels, and evaluate changes to its institutional framework. We find that deliberation significantly increases the accuracy of decision-making. Changes in deliberation rules or committee membership do not uniformly improve outcomes.

Suggested Citation

  • Nathan J. Canen & Matias Iaryczower, 2024. "Innovation Adoption by Committee: Evaluating Decision-Making in the FDA," NBER Working Papers 32787, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:32787
    Note: EH IO POL
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    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health
    • P0 - Political Economy and Comparative Economic Systems - - General

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