Evolution and simulation of drug safety regulations: construction of a game model for capture event
ISSN: 0368-492X
Article publication date: 3 March 2023
Issue publication date: 5 April 2024
Abstract
Purpose
The study focuses on drug safety regulation capture, reveals the inner mechanism and evolutionary characteristics of drug safety regulation capture and provides suggestions for effective regulation by pharmacovigilance.
Design/methodology/approach
The article introduces prospect theory into the game strategy analysis of drug safety events, constructs a benefit perception matrix based on psychological perception and analyzes the risk selection strategies and constraints on stable outcomes for both drug companies and drug regulatory authorities. Moreover, simulation was used to analyze the choice of results of different parameters on the game strategy.
Findings
The results found that the system does not have a stable equilibrium strategy under the role of cognitive psychology. The risk transfer coefficient, penalty cost, risk loss, regulatory benefit, regulatory success probability and risk discount coefficient directly acted in the direction of system evolution toward the system stable strategy. There is a critical effect on the behavioral strategies of drug manufacturers and drug supervisors, which exceeds a certain intensity before the behavioral strategies in repeated games tend to stabilize.
Originality/value
In this article, the authors constructed the perceived benefit matrix through the prospect value function to analyze the behavioral evolution game strategies of drug companies and FDA in the regulatory process, and to evaluate the evolution law of each factor.
Keywords
Acknowledgements
The authors are grateful to the case company for permitting and supporting this research. This work was financially supported by Humanities and social sciences research project of the Ministry of Education (20YJAZH096).
Citation
Wan, A., Huang, Q., Elahi, E. and Peng, B. (2024), "Evolution and simulation of drug safety regulations: construction of a game model for capture event", Kybernetes, Vol. 53 No. 5, pp. 1763-1783. https://doi.org/10.1108/K-08-2022-1184
Publisher
:Emerald Publishing Limited
Copyright © 2023, Emerald Publishing Limited