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We analyze a patent race where the first innovator receives a time-dependent reward while all firms incur costs. When …
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This paper studies the consequences of physician authority on pharmaceutical prescribing. Physicians engage in a costly process of "matching" patients to the drug which most suits their particular conditions and characteristics.
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this phenomenon (switching costs, habit and unobserved heterogeneity) are incomplete, and presents another explanation …, namely that individuals possess asymmetric information about their alternatives and are faced with search costs. …
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