Philipson, Tomas J. <br/><br/>
Who Benefits from New Medical Technologies? Estimates of Consumer and Producer Surpluses for HIV/AIDS Drugs / 
Tomas J. Philipson, Anupam B. Jena. 
 - Cambridge, Mass.  National Bureau of Economic Research  2005. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w11810 .
 - Working Paper Series (National Bureau of Economic Research)  no. w11810. .
<br/><br/> December 2005. 
<br/><br/> The social value of an innovation is comprised of the value to consumers and the value to innovators. We estimate that for the HIV/AIDS therapies that entered the market from the late 1980's onwards, innovators appropriated only 5% of the social surplus arising from these new technologies. Despite the high annual costs of these drugs to patients, the low share of social surplus going to innovators raises concerns about advocating cost-effectiveness criteria that would further reduce this share, and hence further reduce incentives for innovation. 
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