Hedonic Analysis of Arthritis Drugs / Iain M. Cockburn, Aslam H. Anis.

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Cockburn, Iain M

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Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w6574.Publication details: Cambridge, Mass. National Bureau of Economic Research 1998.Description: 1 online resource: illustrations (black and white)Subject(s):

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Abstract: We examine the relationship between quality'' and market outcomes for a group of drugs used to treat rheumatoid arthritis. Though this is a widespread and debilitating disease with very substantial impacts on the health of patients and on the economy, currently available drugs have limited efficacy and serious side effects. Clinical research conducted since these products were approved has resulted in substantial revisions to the body of scientific information available to physicians. The relative quality' of these drugs (as captured by efficacy and toxicity measurements reported in peer-reviewed clinical trials) has changed markedly over the past 15 years. Yet in our analysis of US wholesale prices we find that relative prices appear to be only weakly related to quality. We do however find a relationship between changes in reported efficacy and toxicity and the evolution of quantity shares in this market.

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Item type	Home library	Collection	Call number	Status	Date due	Barcode	Item holds
Working Paper	Biblioteca Digital	Colección NBER	nber w6574 (Browse shelf(Opens below))	Not For Loan

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May 1998.

We examine the relationship between quality'' and market outcomes for a group of drugs used to treat rheumatoid arthritis. Though this is a widespread and debilitating disease with very substantial impacts on the health of patients and on the economy, currently available drugs have limited efficacy and serious side effects. Clinical research conducted since these products were approved has resulted in substantial revisions to the body of scientific information available to physicians. The relative quality' of these drugs (as captured by efficacy and toxicity measurements reported in peer-reviewed clinical trials) has changed markedly over the past 15 years. Yet in our analysis of US wholesale prices we find that relative prices appear to be only weakly related to quality. We do however find a relationship between changes in reported efficacy and toxicity and the evolution of quantity shares in this market.