Drug Innovations and Welfare Measures Computed from Market Demand : The Case of Anti-Cholesterol Drugs

@inproceedings{Dunn2011DrugIA,
  title={Drug Innovations and Welfare Measures Computed from Market Demand : The Case of Anti-Cholesterol Drugs},
  author={Abe Dunn},
  year={2011}
}
The pharmaceutical industry is characterized as having substantial investment in R&D and a large number of new product introductions, which poses special problems for price measurement caused by the quality of drug products changing over time. This paper applies recent demand estimation techniques to individual level data to construct a constant-quality price index for anti-cholesterol drugs. Although the average price for anti-cholesterol drugs does not change over the sample period, I …nd… CONTINUE READING

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