Nicholas Schiefer on Twitter: "@voretaq7 Oof, yes, I'm sure. 😅 This happens in all kinds of contexts (I'm a grad student, and grad students definitely forget just how weird grad school is). I actually think this is where outsiders can be useful: just pointing out other ways that the world could be." / Twitter

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Aug 11, 2021

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Uh, I think we are using words in different ways here. The regulatory framework is definitely an obstacle for the vaccine boosters (and in your day job example), at least as I mean it. At minimum, in the absence of the regulator at all, neither of those things would be held up.

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We could also see how regulatory choices affect decision making by companies on the margin. For example, the R&D costs for enough trial data to convince me to take a booster dose are small: probably less than $100k. At the price I'd pay for one, it's easy to make that back.

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On the other hand, with FDA standards the cost of enough trials to get FDA authorization is much greater. And with our vaccine purchasing regime, earning the money back is much harder, too.

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The key point I'm making here is that regulatory burden can totally shift rational decision making on the part of the companies, especially at the margin, even though it is physically possible to meet the regulatory requirements.

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Nicholas Schiefer

@nschiefer

Replying to

@voretaq7

Oof, yes, I'm sure. 😅 This happens in all kinds of contexts (I'm a grad student, and grad students definitely forget just how weird grad school is). I actually think this is where outsiders can be useful: just pointing out other ways that the world could be.

11:57 PM · Aug 11, 2021Twitter Web App

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