메뉴 건너뛰기




Volumn 43, Issue 1, 2012, Pages 110-138

A Markov-perfect equilibrium model of the impacts of price controls on the performance of the pharmaceutical industry

Author keywords

[No Author keywords available]

Indexed keywords


EID: 84859249371     PISSN: 07416261     EISSN: 17562171     Source Type: Journal    
DOI: 10.1111/j.1756-2171.2012.00159.x     Document Type: Article
Times cited : (24)

References (53)
  • 1
    • 34548355134 scopus 로고    scopus 로고
    • The Cost of U.S. Pharmaceutical Price Regulation: A Financial Simulation Model of R&D Decisions
    • Abbott, T.A. and Vernon, J.A. The Cost of U.S. Pharmaceutical Price Regulation: A Financial Simulation Model of R&D Decisions. Managerial and Decision Economics, Vol. 28 (2007), pp. 293-306.
    • (2007) Managerial and Decision Economics , vol.28 , pp. 293-306
    • Abbott, T.A.1    Vernon, J.A.2
  • 2
    • 4043096919 scopus 로고    scopus 로고
    • Market Size in Innovation: Theory and Evidence from the Pharmaceutical Industry
    • Acemoglu, D. and Linn, J. Market Size in Innovation: Theory and Evidence from the Pharmaceutical Industry. Quarterly Journal of Economics, Vol. 119 (2004), pp. 1049-1090.
    • (2004) Quarterly Journal of Economics , vol.119 , pp. 1049-1090
    • Acemoglu, D.1    Linn, J.2
  • 3
    • 33744779019 scopus 로고    scopus 로고
    • Unobserved Product Differentiation in Discrete-Choice Models: Estimating Price Elasticities and Welfare Effects
    • Ackerberg, D.A. and Rysman, M. Unobserved Product Differentiation in Discrete-Choice Models: Estimating Price Elasticities and Welfare Effects. RAND Journal of Economics, Vol. 36 (2005), pp. 771-788.
    • (2005) RAND Journal of Economics , vol.36 , pp. 771-788
    • Ackerberg, D.A.1    Rysman, M.2
  • 4
    • 33645096887 scopus 로고    scopus 로고
    • Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach
    • Bajari, P. and Benkard, C.L. Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach. Journal of Political Economy, Vol. 113 (2005), pp. 1239-1276.
    • (2005) Journal of Political Economy , vol.113 , pp. 1239-1276
    • Bajari, P.1    Benkard, C.L.2
  • 5
    • 84859259431 scopus 로고
    • Structure of Passenger Travel Demand Models." PhD Dissertation, MIT
    • Ben-Akiva, M. Structure of Passenger Travel Demand Models." PhD Dissertation, MIT, 1973.
    • (1973)
    • Ben-Akiva, M.1
  • 6
    • 3843129848 scopus 로고    scopus 로고
    • A Dynamic Analysis of the Market for Wide-Bodied Commercial Aircraft
    • Benkard, C.L. A Dynamic Analysis of the Market for Wide-Bodied Commercial Aircraft. Review of Economic Studies, Vol. 71 (2004), pp. 581-611.
    • (2004) Review of Economic Studies , vol.71 , pp. 581-611
    • Benkard, C.L.1
  • 7
    • 34248998182 scopus 로고    scopus 로고
    • Advanced Market Commitments for Vaccines against Neglected Diseases: Estimating Costs and Effectiveness
    • Berndt, E.R., Glennerster, R., Kremer, M.R., Lee, J., Levine, R., Weizsacker, G., and Williams, H. Advanced Market Commitments for Vaccines against Neglected Diseases: Estimating Costs and Effectiveness." Health Economics, Vol. 16 (2007), pp. 491-511
    • (2007) Health Economics , vol.16 , pp. 491-511
    • Berndt, E.R.1    Glennerster, R.2    Kremer, M.R.3    Lee, J.4    Levine, R.5    Weizsacker, G.6    Williams, H.7
  • 8
    • 37149024390 scopus 로고    scopus 로고
    • The Pure Characteristics Demand Model
    • Berry, S. and Pakes, A. The Pure Characteristics Demand Model. International Economic Review, Vol. 48 (2007), pp. 1193-1225.
    • (2007) International Economic Review , vol.48 , pp. 1193-1225
    • Berry, S.1    Pakes, A.2
  • 9
    • 0029190847 scopus 로고
    • Automobile Prices in Market Equilibrium
    • Berry, S. and Pakes, A., Levinsohn, J., and Pakes, A. Automobile Prices in Market Equilibrium. Econometrica, Vol. 63 (1995), pp. 841-890.
    • (1995) Econometrica , vol.63 , pp. 841-890
    • Berry, S.1    Pakes, A.2    Levinsohn, J.3    Pakes, A.4
  • 10
    • 84859259417 scopus 로고    scopus 로고
    • Adverse Consequences of OECD Government Interventions in Pharmaceutical Markets on the U.S. Economy and Consumer." White Paper, Boston Consulting Group
    • Brouwers, C.-A., Silverstein, M.B., and Wolff, T. Adverse Consequences of OECD Government Interventions in Pharmaceutical Markets on the U.S. Economy and Consumer." White Paper, Boston Consulting Group, 2004.
    • (2004)
    • Brouwers, C.-A.1    Silverstein, M.B.2    Wolff, T.3
  • 12
    • 84859239492 scopus 로고    scopus 로고
    • Note
    • Central Intelligence Agency. (CIA). "CIA World FactBook." 2009.
  • 13
    • 78649407471 scopus 로고    scopus 로고
    • A Dynamic Oligopoly Structural Model for the Prescription Drug Market after Patent Expiration."
    • Ching, A. A Dynamic Oligopoly Structural Model for the Prescription Drug Market after Patent Expiration." International Economic Review, Vol. 51 (2010), pp. 1175-1207
    • (2010) International Economic Review , vol.51 , pp. 1175-1207
    • Ching, A.1
  • 14
    • 0344646776 scopus 로고    scopus 로고
    • Is Technological Change in Medicine Worth It? Health Affairs
    • Cutler, D.M. and McClellan, M. Is Technological Change in Medicine Worth It? Health Affairs (2001), pp. 11-29.
    • (2001) , pp. 11-29
    • Cutler, D.M.1    McClellan, M.2
  • 16
    • 17144371079 scopus 로고    scopus 로고
    • Prices and Availability of Pharmaceuticals: Evidence from Nine Countries
    • (July-August Supplement)
    • Danzon, P.M. and Furukawa, M.F. Prices and Availability of Pharmaceuticals: Evidence from Nine Countries. Health Affairs, Vol. 22 (2003 July-August Supplement), pp. 521-536.
    • (2003) Health Affairs , vol.22 , pp. 521-536
    • Danzon, P.M.1    Furukawa, M.F.2
  • 17
    • 14944376871 scopus 로고    scopus 로고
    • The Impact of Price Regulation on the Launch Delay of New Drugs-Evidence from Twenty-Five Major Markets in the 1990s
    • Danzon, P.M. and Furukawa, M.F., Wang, Y.R., and Wang, L. The Impact of Price Regulation on the Launch Delay of New Drugs-Evidence from Twenty-Five Major Markets in the 1990s. Health Economics, Vol. 14 (2005), pp. 269-292.
    • (2005) Health Economics , vol.14 , pp. 269-292
    • Danzon, P.M.1    Furukawa, M.F.2    Wang, Y.R.3    Wang, L.4
  • 18
    • 84859232005 scopus 로고    scopus 로고
    • Medicare Prescription Drug Benefit Summary of USP Approach and Methodology to the Model Guidelines Version 4.0." Report, United States Pharmacopeial Convention
    • Dill, G. Medicare Prescription Drug Benefit Summary of USP Approach and Methodology to the Model Guidelines Version 4.0." Report, United States Pharmacopeial Convention, 2008.
    • (2008)
    • Dill, G.1
  • 19
    • 34548324706 scopus 로고    scopus 로고
    • The Cost of Biopharmaceutical R&D: Is Biotech Different?
    • DiMasi, J.A. and Grabowski, H.G. The Cost of Biopharmaceutical R&D: Is Biotech Different? Managerial and Decision Economics, Vol. 28 (2007), pp. 469-479.
    • (2007) Managerial and Decision Economics , vol.28 , pp. 469-479
    • DiMasi, J.A.1    Grabowski, H.G.2
  • 22
    • 84959843820 scopus 로고
    • Markov-Perfect Industry Dynamics: A Framework for Empirical Work
    • Ericson, R. and Pakes, A. Markov-Perfect Industry Dynamics: A Framework for Empirical Work. Review of Economic Studies, Vol. 62 (1995), pp. 53-82.
    • (1995) Review of Economic Studies , vol.62 , pp. 53-82
    • Ericson, R.1    Pakes, A.2
  • 23
    • 34548337208 scopus 로고    scopus 로고
    • The Effects of Profit-Reducing Policies on Firm Survival, Financial Performance, and New Drug Introductions in the Research-Based Pharmaceutical Industry
    • Filson, D. and Masia, N. The Effects of Profit-Reducing Policies on Firm Survival, Financial Performance, and New Drug Introductions in the Research-Based Pharmaceutical Industry. Managerial and Decision Economics, Vol. 28 (2007), pp. 329-351.
    • (2007) Managerial and Decision Economics , vol.28 , pp. 329-351
    • Filson, D.1    Masia, N.2
  • 24
    • 20744458237 scopus 로고    scopus 로고
    • Drug Prices and Research and Development Investment Behavior in the Pharmaceutical Industry
    • Giaccotto, C., Santerre, R.E., and Vernon, J.A. Drug Prices and Research and Development Investment Behavior in the Pharmaceutical Industry. Journal of Law and Economics, Vol. 48 (2005), pp. 195-214.
    • (2005) Journal of Law and Economics , vol.48 , pp. 195-214
    • Giaccotto, C.1    Santerre, R.E.2    Vernon, J.A.3
  • 25
    • 84859264130 scopus 로고    scopus 로고
    • Addressing the Innovation Divide: Imbalanced Innovation." Report, Bain & Company
    • Gilbert, J. and Rosenberg, P. Addressing the Innovation Divide: Imbalanced Innovation." Report, Bain & Company, 2004.
    • (2004)
    • Gilbert, J.1    Rosenberg, P.2
  • 27
    • 34548359290 scopus 로고    scopus 로고
    • Generic Competition and Market Exclusivity Periods in Pharmaceuticals
    • Grabowski, H.G. and Kyle, M. Generic Competition and Market Exclusivity Periods in Pharmaceuticals. Managerial and Decision Economics, Vol. 28 (2007), pp. 491-502.
    • (2007) Managerial and Decision Economics , vol.28 , pp. 491-502
    • Grabowski, H.G.1    Kyle, M.2
  • 28
    • 0001456971 scopus 로고
    • Pioneers, Imitators, and Generics-A Simulation Model of Schumpeterian Competition
    • Grabowski, H.G. and Kyle, M. and Vernon, J.M. Pioneers, Imitators, and Generics-A Simulation Model of Schumpeterian Competition. Quarterly Journal of Economics, Vol. 102 (1987), pp. 491-525.
    • (1987) Quarterly Journal of Economics , vol.102 , pp. 491-525
    • Grabowski, H.G.1    Kyle, M.2    Vernon, J.M.3
  • 29
    • 84934453292 scopus 로고
    • Brand Loyalty, Entry and Price Competition in Pharmaceuticals after the 1984 Drug Act
    • Grabowski, H.G. and Kyle, M. and Grabowski, H.G. and Kyle, M.. Brand Loyalty, Entry and Price Competition in Pharmaceuticals after the 1984 Drug Act. Journal of Law and Economics, Vol. 35 (1992), pp. 331-350.
    • (1992) Journal of Law and Economics , vol.35 , pp. 331-350
    • Grabowski, H.G.1    Kyle, M.2    Grabowski, H.G.3    Kyle, M.4
  • 30
    • 0029838687 scopus 로고    scopus 로고
    • Longer Patents for Increased Generic Competition in the U.S
    • Grabowski, H.G. and Kyle, M. and Grabowski, H.G. and Kyle, M.. Longer Patents for Increased Generic Competition in the U.S. PharmacoEconomics, Vol. 10, Suppl. (1996), pp. 110-123.
    • (1996) PharmacoEconomics , vol.10 , Issue.SUPPL. , pp. 110-123
    • Grabowski, H.G.1    Kyle, M.2    Grabowski, H.G.3    Kyle, M.4
  • 31
    • 0036441845 scopus 로고    scopus 로고
    • Returns on Research and Development for 1990s New Drug Introductions
    • Grabowski, H.G. and Kyle, M., Grabowski, H.G. and Kyle, M., and DiMasi, J.A. Returns on Research and Development for 1990s New Drug Introductions. PharmacoEconomics, Vol. 20, Suppl. 3 (2002), pp. 11-29.
    • (2002) PharmacoEconomics , vol.20 , Issue.SUPPL. 3 , pp. 11-29
    • Grabowski, H.G.1    Kyle, M.2    Grabowski, H.G.3    Kyle, M.4    DiMasi, J.A.5
  • 32
    • 0001600291 scopus 로고
    • Entry, Exit, and Firm Dynamics in Long-Run Equilibrium
    • Hopenhayn, H.A. Entry, Exit, and Firm Dynamics in Long-Run Equilibrium. Econometrica, Vol. 60 (1992), pp. 1127-1150.
    • (1992) Econometrica , vol.60 , pp. 1127-1150
    • Hopenhayn, H.A.1
  • 33
    • 84859232000 scopus 로고    scopus 로고
    • 'Napsterizing' Pharmaceuticals: Access, Innovation, and Consumer Welfare." Working Paper no. 9229, National Bureau of Economic Research
    • Hughes, J.W., Moore, M.J., and Snyder, E.A. 'Napsterizing' Pharmaceuticals: Access, Innovation, and Consumer Welfare." Working Paper no. 9229, National Bureau of Economic Research, 2002.
    • (2002)
    • Hughes, J.W.1    Moore, M.J.2    Snyder, E.A.3
  • 34
    • 0009009362 scopus 로고    scopus 로고
    • Patent Buyouts: A Mechanism for Encouraging Innovation
    • Kremer, M. Patent Buyouts: A Mechanism for Encouraging Innovation. Quarterly Journal of Economics, Vol. 113 (1998), pp. 1137-1167.
    • (1998) Quarterly Journal of Economics , vol.113 , pp. 1137-1167
    • Kremer, M.1
  • 35
    • 61549107708 scopus 로고    scopus 로고
    • Innovation and the Welfare Effects of Public Drug Insurance
    • Lakdawalla, D. and Sood, N. Innovation and the Welfare Effects of Public Drug Insurance. Journal of Public Economics, Vol. 93 (2009), pp. 541-548.
    • (2009) Journal of Public Economics , vol.93 , pp. 541-548
    • Lakdawalla, D.1    Sood, N.2
  • 37
    • 7644230703 scopus 로고    scopus 로고
    • Pharmaceutical Innovation, Mortality Reduction, and Economic Growth
    • R.H. Topel and K.M. Murphy, eds., Chicago : University of Chicago Press
    • Lichtenberg, F.R. Pharmaceutical Innovation, Mortality Reduction, and Economic Growth." In R.H. Topel and K.M. Murphy, eds., Measuring the Gains from Medical Research: An Economic Approach. Chicago : University of Chicago Press, 2003.
    • (2003) Measuring the Gains from Medical Research: An Economic Approach
    • Lichtenberg, F.R.1
  • 39
    • 0002297105 scopus 로고
    • Conditional Logit Analysis of Qualitative Choice Behavior
    • P. Zarembka, ed., New York : Academic Press
    • McFadden, D. Conditional Logit Analysis of Qualitative Choice Behavior." In P. Zarembka, ed., Frontiers in Econometrics. New York : Academic Press, 1973.
    • (1973) Frontiers in Econometrics
    • McFadden, D.1
  • 40
    • 0003265969 scopus 로고    scopus 로고
    • Computing Willingness-to-Pay in Random Utility Models
    • J.R. Melvin, J.C. Moore, and R. Riezman, eds., New York : Routledge
    • McFadden, D.. Computing Willingness-to-Pay in Random Utility Models." In J.R. Melvin, J.C. Moore, and R. Riezman, eds., Trade, Theory, and Econometrics: Essays in Honor of John S. Chipman. New York : Routledge, 1999.
    • (1999) Trade, Theory, and Econometrics: Essays in Honor of John S. Chipman
    • McFadden, D.1
  • 41
    • 0346620166 scopus 로고    scopus 로고
    • The Economic Value of Medical Knowledge
    • " In R.H. Topel and K.M. Murphy, eds., Chicago : University of Chicago Press
    • Murphy, K.M. and Topel, R.H. The Economic Value of Medical Knowledge." In R.H. Topel and K.M. Murphy, eds., Measuring the Gains from Medical Research: An Economic Approach. Chicago : University of Chicago Press, 2003.
    • (2003) Measuring the Gains from Medical Research: An Economic Approach
    • Murphy, K.M.1    Topel, R.H.2
  • 43
    • 0037677789 scopus 로고    scopus 로고
    • New Products, Quality Changes, and Welfare Measures Computed from Estimated Demand Systems
    • Nevo, A. New Products, Quality Changes, and Welfare Measures Computed from Estimated Demand Systems. Review of Economics & Statistics, Vol. 85 (2003), pp. 266-275.
    • (2003) Review of Economics & Statistics , vol.85 , pp. 266-275
    • Nevo, A.1
  • 44
    • 21844517334 scopus 로고
    • Computing Markov-Perfect Equilibria: Numerical Implications of a Dynamic Differentiated Products Model
    • Pakes, A. and McGuire, P. Computing Markov-Perfect Equilibria: Numerical Implications of a Dynamic Differentiated Products Model. RAND Journal of Economics, Vol. 25 (1994), pp. 555-589.
    • (1994) RAND Journal of Economics , vol.25 , pp. 555-589
    • Pakes, A.1    McGuire, P.2
  • 46
    • 0036693747 scopus 로고    scopus 로고
    • Quantifying the Benefits of New Products: The Case of the Minivan
    • Petrin, A. Quantifying the Benefits of New Products: The Case of the Minivan. Journal of Political Economy, Vol. 110 (2002), pp. 705-729.
    • (2002) Journal of Political Economy , vol.110 , pp. 705-729
    • Petrin, A.1
  • 48
    • 0000258506 scopus 로고
    • Applied Welfare Economics with Discrete Choice Models
    • Small, K.A. and Rosen, H.S. Applied Welfare Economics with Discrete Choice Models. Econometrica, Vol. 49 (1981), pp. 105-130.
    • (1981) Econometrica , vol.49 , pp. 105-130
    • Small, K.A.1    Rosen, H.S.2
  • 49
    • 59449110007 scopus 로고    scopus 로고
    • The Effect of Regulation on Pharmaceutical Revenues: Experience in Nineteen Countries
    • Sood, N., De Vries, H., Gutierrez, I., Lakdawalla, D.N., and Goldman, D.P. The Effect of Regulation on Pharmaceutical Revenues: Experience in Nineteen Countries. Health Affairs, Vol. 28 (2009), pp. W125-W137.
    • (2009) Health Affairs , vol.28
    • Sood, N.1    De Vries, H.2    Gutierrez, I.3    Lakdawalla, D.N.4    Goldman, D.P.5
  • 51
    • 45849146778 scopus 로고    scopus 로고
    • The Effects of Taxes and Advertising Restrictions on the Market Structure of the U.S. Cigarette Market
    • Tan, W. The Effects of Taxes and Advertising Restrictions on the Market Structure of the U.S. Cigarette Market. Review of Industrial Organization, Vol. 28 (2006), pp. 231-251.
    • (2006) Review of Industrial Organization , vol.28 , pp. 231-251
    • Tan, W.1
  • 52
    • 84859264134 scopus 로고    scopus 로고
    • Note
    • U.S. Department of Commerce, International Trade Administration. "Pharmaceutical Price Controls in OECD Countries: Implications for U.S. Consumers, Pricing, Research and Development, and Innovation." 2004.
  • 53
    • 12344253089 scopus 로고    scopus 로고
    • Examining the Link between Price Regulation and Pharmaceutical R&D Investment
    • Vernon, J.A. Examining the Link between Price Regulation and Pharmaceutical R&D Investment. Health Economics, Vol. 14 (2005), pp. 1-16.
    • (2005) Health Economics , vol.14 , pp. 1-16
    • Vernon, J.A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.