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In search of a corrected prescription drug Elasticity estimate: a meta-regression approach

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Author Info
Marin C. Gemmill (LSE Health, London School of Economics and Political Science, London, UK)
Joan Costa-Font
Alistair McGuire

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Abstract

An understanding of the relationship between cost sharing and drug consumption depends on consistent and unbiased price elasticity estimates. However, there is wide heterogeneity among studies, which constrains the applicability of elasticity estimates for empirical purposes and policy simulation. This paper attempts to provide a corrected measure of the drug price elasticity by employing meta-regression analysis (MRA). The results indicate that the elasticity estimates are significantly different from zero, and the corrected elasticity is −0.209 when the results are made robust to heteroskedasticity and clustering of observations. Elasticity values are higher when the study was published in an economic journal, when the study employed a greater number of observations, and when the study used aggregate data. Elasticity estimates are lower when the institutional setting was a tax-based health insurance system. Copyright © 2007 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/hec.1190
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Publisher Info
Article provided by John Wiley & Sons, Ltd. in its journal Health Economics.

Volume (Year): 16 (2007)
Issue (Month): 6 ()
Pages: 627-643
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:wly:hlthec:v:16:y:2007:i:6:p:627-643

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Web page: http://www3.interscience.wiley.com/cgi-bin/jhome/5749

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  1. Stanley, T D & Jarrell, Stephen B, 1989. " Meta-Regression Analysis: A Quantitative Method of Literature Survey s," Journal of Economic Surveys, Blackwell Publishing, vol. 3(2), pages 161-70.
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  2. Alexander, Donald L & Flynn, Joseph E & Linkins, Linda A, 1994. "Estimates of the Demand for Ethical Pharmaceutical Drugs across Countries and Time," Applied Economics, Taylor and Francis Journals, vol. 26(8), pages 821-26, August.
  3. Paul Grootendorst & Mitchell Levine, 2002. "Do Drug Plans Matter? Effects of Drug Plan Eligibility on Drug Use Among the Elderly, Social Assistance Recipients and the General Population," Quantitative Studies in Economics and Population Research Reports 372, McMaster University. [Downloadable!]
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  4. Stephen Smith & Sheila Watson, 1990. "Modelling the effects of prescription charge rises," Fiscal Studies, Institute for Fiscal Studies, vol. 11(1), pages 75-91, February.
  5. O'Brien, Bernie, 1989. "The effect of patient charges on the utilisation of prescription medicines," Journal of Health Economics, Elsevier, vol. 8(1), pages 109-132, March. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Hristos Doucouliagos & T.D. Stanley, 2008. "Publication Selection Bias in Minimum-Wage Research? A Meta-Regression Analysis," Economics Series 2008_14, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance. [Downloadable!]
    Other versions:
  2. Hristos Doucouliagos & T.D. Stanley, 2008. "Theory Competition and Selectivity: Are All Economic Facts Greatly Exaggerated?," Economics Series 2008_06, Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance. [Downloadable!]
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