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Competition in the Pharmaceutical Industry: How do Quality Differences Shape Advertising Strategies?
de Frutos, Maria-Angeles; Ornaghi, Carmine; Siotis, Georges - C.E.P.R. Discussion Papers - 2010
We present a Hotelling model of price and advertising competition between prescription drugs that differ in quality …/side e¤ects. Advertising results in the endogenous formation of two consumer groups: brand loyal and non-brand loyal ones. We … show that advertising strategies are strategic substitutes, with the better quality drugs being the ones that are most …
Persistent link: https://www.econbiz.de/10008680762
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If Winning Isn't Everything, Why Do They Keep Score? A Structural Empirical Analysis of Dutch Flower Auctions
den Berg, Gerard J van; van der Klaauw, Bas - C.E.P.R. Discussion Papers - 2007
This paper provides a structural empirical analysis of Dutch auctions of houseplants at the flower auction in Aalsmeer, the Netherlands. The data set is unique for Dutch auctions in the sense that it includes observations of all losing bids in an interval adjacent to the winning bid. The size of...
Persistent link: https://www.econbiz.de/10005656139
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Impacts of Patent Expiry and Regulatory Policies on Daily Cost of Pharmaceutical Treatments: OECD Countries, 2004-2010
Berndt, Ernst R; Dubois, Pierre - C.E.P.R. Discussion Papers - 2012
Cross-country variability in regulatory frameworks, industrial policy, physician/pharmacy autonomy, brand/generic distinctions, and in the practice of medicine contributes to ambiguous interpretations of pharmaceutical cost comparisons. Here we report cross-country comparisons that: (i) focus on...
Persistent link: https://www.econbiz.de/10011083891
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Investments in Pharmaceuticals Before and After TRIPS
Kyle, Margaret K; McGahan, Anita M - C.E.P.R. Discussion Papers - 2011
This paper addresses the relationship between patent protection and investment in the development of new pharmaceutical treatments. The TRIPS Agreement, which specifies minimum levels of intellectual property protection for countries in the World Trade Organization, has increased levels of...
Persistent link: https://www.econbiz.de/10009002387
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Vaccines vs. Preventives
Kremer, Michael; Snyder, Christopher - C.E.P.R. Discussion Papers - 2015
Preventives are sold ex ante, before disease status is realized, while treatments are sold ex post. Even if the mean of the ex ante distribution of consumer values is the same as that ex post, the shape of the distributions may differ, generating a difference between the surplus each product can...
Persistent link: https://www.econbiz.de/10011196028
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Market Structure and Market Performance in E-Commerce
Hackl, Franz; Kummer, Michael E; Winter-Ebmer, Rudolf; … - C.E.P.R. Discussion Papers - 2012
We investigate the causal effect of market structure on market performance in the consumer electronics. We combine data from Austria's largest online site for price comparisons with retail data on wholesale prices provided by a major hardware producer for consumer electronics. We observe input...
Persistent link: https://www.econbiz.de/10011083898
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Innovating Firms and Aggregate Innovation
Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002
We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...
Persistent link: https://www.econbiz.de/10005788918
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Innovation and Market Structure: An Empirical Evaluation of the 'Bounds Approach' in the Chemical Industry
Uribe, Marín; Luis, Pedro; Siotis, Georges - C.E.P.R. Discussion Papers - 2002
This Paper empirically tests the ‘bounds approach’ to industry structure proposed by Sutton ((1991), (1998)). To carry out this task, we focus on the chemical industry. Part of the novelty in this exercise is that we work on the finest possible level of disaggregation. Also, we identify...
Persistent link: https://www.econbiz.de/10005656233
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Price Competition, Innovation and Profitability: Theory and UK Evidence
Symeonidis, George - C.E.P.R. Discussion Papers - 2001
This Paper examines the effect of price competition on innovation, market structure and profitability in R&D-intensive industries. The theoretical predictions are tested using UK data on the evolution of competition, concentration, innovation counts and profitability over 1952-77. The...
Persistent link: https://www.econbiz.de/10005666839
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A DSGE Model of China
Dai, Li; Minford, Patrick; Zhou, Peng - C.E.P.R. Discussion Papers - 2014
We use available methods for testing macro models to evaluate a model of China over the period from Deng Xiaoping's reforms up until the crisis period. Bayesian ranking methods are heavily influenced by controversial priors on the degree of price/wage rigidity. When the overall models are tested...
Persistent link: https://www.econbiz.de/10011083573