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Identification and Estimation of Hedonic Models
Ekeland, Ivar; Heckman, James J.; Nesheim, Lars - 2021
This paper considers the identification and estimation of hedonic models. We establish that in an additive version of the hedonic model, technology and preferences are generically identified up to affine transformations from data on demand and supply in a single hedonic market. For a very...
Persistent link: https://www.econbiz.de/10013249344
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Sparse Network Asymptotics for Logistic Regression Under Possible Misspecification
Graham, Bryan S. - 2022
Consider a bipartite network where N consumers choose to buy or not to buy M different products. This paper considers the properties of the logit fit of the N ×M array of “i-buys-j” purchase decisions, Y = [Yij ]1≤i≤N,1≤j≤M, onto a vector of known functions of consumer and product...
Persistent link: https://www.econbiz.de/10014091899
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Cross-National Evidence on Generic Pharmaceuticals : Pharmacy vs. Physician-Driven Markets
Danzon, Patricia M. - 2011
This paper examines the role of regulation and competition in generic markets. Generics offer large potential savings … prompt entry, aggressive price competition and patient switching to generics. Key features are that pharmacists are …
Persistent link: https://www.econbiz.de/10013122264
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Pharmaceutical Pricing in Emerging Markets : Effects of Income, Competition and Procurement
Danzon, Patricia M. - 2011
affects prices to retail pharmacies, plausibly because uncertain quality leads to competition on brand rather than price …
Persistent link: https://www.econbiz.de/10013122879
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Side Effects of Competition : The Role of Advertising and Promotion in Pharmaceutical Markets
David, Guy - 2011
of competition (e.g. monopoly versus oligopoly). In this paper we model the firm's behavior under different competitive …
Persistent link: https://www.econbiz.de/10013123314
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Brand Loyalty, Generic Entry and Price Competition in Pharmaceuticals in the Quarter Century after the 1984 Waxman-Hatch Legislation
Berndt, Ernst R. - 2014
The landmark Waxman-Hatch Act of 1984 represented a "grand compromise" legislation that sought to balance incentives for innovation by establishing finite periods of market exclusivity yet simultaneously providing access to lower cost generics expeditiously following patent expiration. Here we...
Persistent link: https://www.econbiz.de/10013069176
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The New Prescription Drug Paradox : Pipeline Pressure and Rising Prices
Ellyson, Alice - 2018
competition after entry. However, less attention has been paid to pricing behavior in anticipation of brand-to-brand competition … manufacturers under tiered-insurance anticipating branded competition. Our model predicts rising prices for incumbent drugs for a …
Persistent link: https://www.econbiz.de/10012925274
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The Competitive Effects of Drug Withdrawals
Cawley, John - 2014
In September 1997, the anti-obesity drugs Pondimin and Redux, ingredients in the popular drug combination fen-phen, were withdrawn from the market for causing potentially fatal side effects. That event provides an opportunity for studying how consumers respond to drug withdrawals. In theory,...
Persistent link: https://www.econbiz.de/10012752599
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Competition and R&D Financing Decisions : Theory and Evidence from the Biopharmaceutical Industry
Thakor, Richard T. - 2015
How does competition affect innovation and how it is financed in R&D-intensive firms? We study the interaction between … competition, R&D investments, and the financing choices of such firms using data on biopharmaceutical firms. To motivate the … existing assets are all determined in response to the degree of competition in the industry. The key predictions are that, as …
Persistent link: https://www.econbiz.de/10013029032
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An Estimation of Economic Models with Recursive Preferences
Chen, Xiaohong - 2011
This paper presents estimates of key preference parameters of the Epstein and Zin (1989, 1991) and Weil (1989) (EZW) recursive utility model, evaluates the model's ability to fit asset return data relative to other asset pricing models, and investigates the implications of such estimates for the...
Persistent link: https://www.econbiz.de/10013123699