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Characteristics of Demand for Pharmaceutical Products : an Examination of four Cephalosporins

Author

Listed:
  • Ellison, S
  • Cockburn, I
  • Griliches, A
  • Hausman, J

Abstract

In this paper we model demand for four cephalosporins and compute own- and cross-price elasticities between branded and generic versions of the four drugs. We model demand as a multistage budgeting problem, and argue that such a model is appropriate to the multistage nature of the purchase of pharmaceutical products, in particular, the prescribing and dispensing stages. We find quite high elasticities between generic substitutes and also significant elasticities between some therapeutic substitutes.

Suggested Citation

  • Ellison, S & Cockburn, I & Griliches, A & Hausman, J, 1996. "Characteristics of Demand for Pharmaceutical Products : an Examination of four Cephalosporins," Working papers 96-24, Massachusetts Institute of Technology (MIT), Department of Economics.
  • Handle: RePEc:mit:worpap:96-24
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    Keywords

    DEMAND ; PHARMACEUTICAL INDUSTRY;

    JEL classification:

    • L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology; Plastics

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