Uncertainty and Learning in Pharmaceutical Demand

@inproceedings{Crawford1999UncertaintyAL,
  title={Uncertainty and Learning in Pharmaceutical Demand},
  author={Gregory S. Crawford and Matthew Shum},
  year={1999}
}
Exploiting a rich panel dataset on anti-ulcer drug prescriptions, we measure the effects of uncertainty and learning in the demand for pharmaceutical drugs. We model the demand for pharmaceuticals as a dynamic matching process in which patients are matched with drugs which best fit their specific needs. We estimate a dynamic structural model of demand under uncertainty in which patients learn from prescription experience about the effectiveness of alternative drugs. Unlike previous models, we… CONTINUE READING
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