Cockburn, Iain M. <br/><br/>
Hedonic Analysis of Arthritis Drugs / 
Iain M. Cockburn, Aslam H. Anis. 
 - Cambridge, Mass.  National Bureau of Economic Research  1998. 
 - 1 online resource:  illustrations (black and white); 
 - NBER working paper series  no. w6574 .
 - Working Paper Series (National Bureau of Economic Research)  no. w6574. .
<br/><br/> May 1998. 
<br/><br/> 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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