Lucarelli, Claudio; Nicholson, Sean - 2009
"The average price of treating a colorectal cancer patient with chemotherapy increased from about $100 in 1993 to $36 … substantial increase in spending has been worth it. Using discrete choice methods to estimate demand, we construct a price index … drug quality. A naive price index, which makes no adjustments for the changing attributes of drugs on the market, greatly …