In this paper we study the demand and supply of erythropoietin in four Nordic countries, using an econometric model based on discrete choice and a random utility model. It measures the effect of price changes as well as the loyalty of patients and physicians to a drug. Our main aims are to estimate demand for EPO and to determine the degree of competition in this Nordic market. The main motivation for this paper is to analyze the impact of product innovation on market power and welfare, e.g. on consumer and producer surplus. The product innovation is the entry of Aranesp in the Nordic market.
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Paper provided by Oslo University, Health Economics Research Programme in its series HERO On line Working Paper Series with number
2006:3.
Length: 31 pages Date of creation: 04 Jun 2009 Date of revision: Handle: RePEc:hhs:oslohe:2006_003
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Find related papers by JEL classification: C35 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Discrete Regression and Qualitative Choice Models D43 - Microeconomics - - Market Structure and Pricing - - - Oligopoly and Other Forms of Market Imperfection I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms
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