publication . Article . 2013

Information and diffusion of new prescription drugs

Victoria Serra-Sastre; Alistair McGuire;
Open Access English
  • Published: 01 Jan 2013
  • Publisher: Taylor & Francis
  • Country: United Kingdom
This article examines the role of different product information flows on the diffusion of new pharmaceuticals. Given the innovative nature of pharmaceutical drugs and their impact on health care expenditure there is a surprisingly small literature devoted to this topic. Some information flow mechanisms have been examined individually in the literature, but very few have captured the simultaneous impact of these mechanisms on up-take and diffusion. This article uses the up-take of statins as an example. Diffusion of this therapeutical group is expressed as a function of four specific informational channels: self-experience, consumption externalities, scientific e...
free text keywords: HB, RM, Economics and Econometrics, Externality, Medical prescription, Scientific evidence, Financial incentives, Panel data, Health care, business.industry, business, Clinical evidence, Macroeconomics, Information flow (information theory), Economics, Marketing, Public economics
17 references, page 1 of 2

ARELLANO, M., and S. BOND (1991): "Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations," The Review of Economic Studies, 58, 277-297.

AZOULAY, P. (2002): "Do Pharmaceutical Sales Respond to Scientific Evidence?," Journal of Economics & Management Strategy, 11, 551-594. [OpenAIRE]

BANERJEE, A. V. (1992): "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, 107, 797-817.

BERNDT, E. R., L. BUI, D. R. REILEY, and G. L. URBAN (1995): "Information, Marketing, and Pricing in the U.S. Antiulcer Drug Market," The American Economic Review, 85, 100-105.

BERNDT, E. R., L. T. BUI, D. H. LUCKING-REILEY, and G. L. URBAN (1997): "The Roles of Marketing, Product Quality, and Price Competition in the Growth and Composition of the U.S. Antiulcer Drug Industry," in The Economics of New Goods, ed. by T. F. Bresnahan, and R. J. Gordon. Chicago: The University of Chicago Press.

BERNDT, E. R., R. S. PINDYCK, and P. AZOULAY (2003): "Consumption Externalities and Diffusion in Pharmaceutical Markets: Antiulcer Drugs," The Journal of Industrial Economics, 51, 243. [OpenAIRE]

BIKHCHANDANI, S., A. CHANDRA, D. GOLDMAN, and I. WELCH (2001): "The Economics of Iatroepidemics and Quakeries: Physician Learning, Informational Cascades and Geographic Variation in Medical Practice," Paper prepared for the 2001 NBER Summer Institute.

BIKHCHANDANI, S., D. HIRSHLEIFER, and I. WELCH (1992): "A Theory of Fads, Fashion, Custom, and Cultural Change as Informational Cascades," The Journal of Political Economy, 100, 992-1026. [OpenAIRE]

BLUNDELL, R., and S. BOND (1998): "Initial Conditions and Moment Restrictions in Dynamic Panel Data Models," Journal of Econometrics, 87, 115-143.

BOND, S. R. (2002): "Dynamic Panel Data Models: A Guide to Micro Data Methods and Practice," Portuguese Economic Journal, 1, 141-162.

BRADFORD, W. D., and A. N. KLIET (2010): "The Impact of Public Information and FDA Issued Warnings on the Utilization of Antidepressants in Adolescents and Young Adults," Presented at the Third Biennial American Society of Health Economists Conference.

BRADLOW, J., and A. COULTER (1993): "Effect of Fundholding and Indicative Prescribing Schemes on General Practitioners' Prescribing Costs," British Medical Journal, 307, 1186-9. [OpenAIRE]

CHING, A., and M. ISHIHARA (2010): "The Effects of Detailing on Prescribing Decisions under Quality Uncertainty," Quantitative Marketing and Economics, 8, 123-165.

CHINTAGUNTA, P., R. JIANG, and G. JIN (2009): "Information, Learning, and Drug Diffusion: The Case of Cox-2 Inhibitors," Quantitative Marketing and Economics, 7, 399-443.

COSCELLI, A., and M. SHUM (2004): "An Empirical Model of Learning and Patient Spillovers in New Drug Entry," Journal of Econometrics, 122, 213-246.

17 references, page 1 of 2
Powered by OpenAIRE Research Graph
Any information missing or wrong?Report an Issue