This paper examines trends in the aggregate productivity of the pharmaceutical sector over the past three decades. We incorporate Ricardo's insight about demand-driven productivity in settings of variable scarce resources, and estimate the industry's responsiveness to changes in demand over this...

The hedonic pricing method is one of the fundamental approaches used to estimate the economic value of attributes that affect the market price of an asset. In environmental economics, such methods are routinely used to derive the economic valuation of environmental attributes such as air...