pharmaceuticals, specifically drug reformulation regulatory gaming. …

pharmaceuticals. We challenge this orthodox view and show, to the contrary, that the pace of innovation often is faster in a world …

the hypothesis that innovation in pharmaceuticals is becoming more difficult and expensive over time, as costs of …

creating an internal market for pharmaceuticals can be analysed. In a model of third-degree price discrimination, arbitrage … Market in pharmaceuticals are ambiguous, since a movement from segmented and price-controlled markets towards integrated …

because of the resources diverted away from R and D into advertising. But these mechanisms generate opposite level effects on …

This paper studies advertising in vertically differentiated product markets with positive consumption externalities. In … consumers. In such markets, we show that firms will engage in advertising competition in order to convince consumers of their … levels of advertising. …

This paper lays out an econometric strategy for estimating the effect of advertising on prices, by exploiting seasonal … demand and imperfect targeting. We present two simple models of duopoly where firms choose prices and advertising. In times …, and so the effectiveness of advertising is greater, and firms advertise more. We use this to justify IV estimation of …