TY  - BOOK
AU  - Philipson,Tomas J.
AU  - Jena,Anupam B.
ED  - National Bureau of Economic Research.
TI  - Who Benefits from New Medical Technologies? Estimates of Consumer and Producer Surpluses for HIV/AIDS Drugs
T2  - NBER working paper series
PY  - 2005///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - December 2005; Hardcopy version available to institutional subscribers
N2  - 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
UR  - https://www.nber.org/papers/w11810
UR  - http://dx.doi.org/10.3386/w11810
ER  -