Information and diffusion of new prescription drugs
This article examines the role of different product information flows on the diffusion of new pharmaceuticals. Given the innovative nature of pharmaceutical drugs and their impact on health care expenditure there is a surprisingly small literature devoted to this topic. Some information flow mechanisms have been examined individually in the literature, but very few have captured the simultaneous impact of these mechanisms on up-take and diffusion. This article uses the up-take of statins as an example. Diffusion of this therapeutical group is expressed as a function of four specific informational channels: self-experience, consumption externalities, scientific evidence and marketing. In addition to this, the influence of economic factors is tested to examine whether they have any role in drug diffusion. Prescription data from over 130 General Practitioners (GP) practices in the UK during 1991--2004 are used to test the econometric specification applying dynamic panel data methods. Results suggest individual self-experience and clinical evidence are major factors promoting diffusion, while there is an inverse relationship with GP practice size and diffusion. Having controlled for these factors financial incentives and marketing appear to play little role.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 45 (2013)
Issue (Month): 15 (May)
|Contact details of provider:|| Web page: http://www.tandfonline.com/RAEC20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/RAEC20|
When requesting a correction, please mention this item's handle: RePEc:taf:applec:45:y:2013:i:15:p:2049-2057. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Chris Longhurst)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.