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consumer drug price elasticity

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Illicit Drugs: Price Elasticity of Demand and Supply - Abt Associates
Illicit Drugs: Price Elasticity of. Demand and Supply. Final Report. February 2000. Prepared for. National Institute of Justice. 810 Seventh Street, N.W. .
http://www.abtassociates.com/reports/20008744845311.pdf

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Illicit Drugs: Price Elasticity of Demand and Supply - National ...
Document Title: Illicit Drugs: Price Elasticity of Demand and . To provide better customer service, NCJRS has made this Federally- . The Price of Illicit Drugs .
http://www.ncjrs.gov/pdffiles1/nij/grants/191856.pdf

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Is Drug Coverage a Free Lunch? Cross-Price Elasticities and the ...
Cross-Price Elasticities and the Design of Prescription Drug . Thus, the effects of changes in input prices on consumers' demands for medical care may have a .
http://www.nber.org/papers/w12758.pdf

The Price Elasticity of Hard Drugs: The Case of Opium in the Dutch ...
PRICE ELASTICITY OF HARD DRUGS. 267 was kept high to discourage consumers. This was a risky policy, since too high a price could encourage opium .
http://www.jstor.org/stable/2138640

Assessing Consumer Gains from a Drug Price Control Policy in the ...
We then simulate consumer surplus gains from a hypothetical drug price control . values for the real interest rate, coinsurance rate, and own-price elasticity of .
ftp://ftp.cba.uri.edu/classes/dash/MBA570/ConsumerDemandPriceControl.pdf

Consumer adverts for pharmaceuticals: Impact on prices and sales ...
Jun 3, 2010 . How does direct-to-consumer drug advertising affect prices? . of the demand- price elasticity (that is, reduce the price-responsiveness of .
http://www.voxeu.org/index.php?q=node/5135

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Estimating the price elasticity of expenditure for prescription drugs in ...
The price elasticity of demand for prescription drugs is a crucial parameter of . for the endogeneity of price and incorporates the concept of a 'rational' consumer .
http://www.ncbi.nlm.nih.gov/pubmed/16127675

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Price Elasticity of Demand - Welker's Wikinomics Page
Price elasticity of demand = consumers' responsiveness/sensitivity to a . If drugs are legalized, the government could gain some money through taxes.
http://welkerswikinomics.wetpaint.com/page/Price+Elasticity+of+Demand

Economic Logic: The demand elasticity of prescription drugs
Feb 15, 2010 . The demand elasticity of prescription drugs . schedule Danes face to estimate the price elasticity for various consumers and drug categories.
http://economiclogic.blogspot.com/2010/02/demand-elasticity-of-prescription-drugs.html

Price discrimination - Wikipedia, the free encyclopedia
A customer with low price elasticity is less deterred by a higher price than a . in poorer nations, as is the case with the sale of anti-retroviral drugs in Africa.
http://en.wikipedia.org/wiki/Price_discrimination

DOES DTC ADVERTISING RAISE PRICE? THE IMPACT OF ...
to price changes in either branded or generic drugs and a less elastic insured consumer segment that responds only to price changes in the branded drug.
http://www.brandweeknrx.com/files/dtc_drug_advertising_and_drug_prices_study.pdf

Price and Income Elasticity of the Demand for Health Insurance and ...
conditions) may be more price elastic than the demand for other drugs. However, direct-to-consumer advertising may significantly reduce the price elasticity of .
http://www.mathematica-mpr.com/publications/pdfs/priceincome.pdf

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International variation of drug prices can increase social welfare in ...
By Frank R. Lichtenberg? 1 Drug prices vary considerably across and within countries. . Generally speaking, low-income consumers have higher price elasticity, .
http://www.worldfinancialreview.com/?p=791

Pharmaceutical Companies' Variation Of Drug Prices Within And ...
Drug prices vary considerably across and within countries. . Generally speaking, low-income consumers have higher price elasticity, meaning that if the price .
http://content.healthaffairs.org/content/30/8/1539.full

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Drug Price Elasticity Literature Review
The impact of user fees on drug consumers' costs have likely . HIE <21,37> yielded drug price elasticities of –0.1 with co-insurance rates of 0 to 25% and .
http://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.195.7446&rep=rep1&type=pdf

Microeconomics - Price Elasticity of Demand
AS Economics - Price Elasticity of Demand. . to be more price elastic, the longer that we allow consumers to respond to a price change by varying . Examples such as cigarettes and alcohol and other drugs come into this category; Peak and .
http://tutor2u.net/economics/revision-notes/as-markets-price-elasticity-of-demand.html

Do Pharmaceutical Marketing Activities Raise Prices? Evidence ...
consumers on the beneficial effects (or new research find- ings) of a drug, which could lead to an increase in demand and a decrease in price elasticity in the .
http://www.journals.marketingpower.com/doi/pdf/10.1509/jppm.28.2.146

DTC Ads Not Biggest Driver Of Drug Spending: Study // Pharmalot
May 17, 2010 . If you enjoy discussions of price elasticity, do we have a paper for you. . Among drugs which were advertised to consumers, the average .
http://www.pharmalot.com/2010/05/dtc-ads-not-biggest-driver-of-drug-spending-study/

NBER WORKING PAPER SERIES THE IMPACT OF DIRECT-TO ...
The Impact of Direct-to-Consumer Advertising on Pharmaceutical Prices and . examines potential changes in the price elasticity of prescription drugs over the .
http://www.nber.org/papers/w15969.pdf

What everyone needs to know about drug marketing. Part 2: Prices
When the price elasticity of demand is low, drug companies will tend to get more . The drug becomes affordable and worth the price for more consumers so .
http://www.healthyskepticism.org/global/news/int/hsin2007-01

Economic Analysis of Price Determinants in Pharmaceutical Industry ...
shields both the consumers and physicians from the price effect – Moral Hazard. . pharmaceutical firm charges price according to price elasticity of the buyer, .
http://works.bepress.com/cgi/viewcontent.cgi?article=1015&context=vikas_singh

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ELASTICITY, CONSUMER SURPLUS, AND PRODUCER SURPLUS
lem arises in computing the price-elasticity coefficient. A price change from, say, . consumer responsiveness to changes in the prices of differ- ent products. . tion of hard drugs would increase consumption by dabblers. Also, removal of the .
http://highered.mcgraw-hill.com/sites/dl/free/0073375691/627557/Chapter06.pdf

Impact of Direct-to-Consumer Advertising on Prescription Drug ...
manufacturers is a major contributor to higher prescription drug costs. . The new study examined changes in direct-to-consumer (DTC) advertising and . the price elasticity results from the five-class analysis were applied to the aggregate .
http://www.kff.org/rxdrugs/upload/Impact-of-Direct-to-Consumer-Advertising-on-Prescription-Drug-Spending-Summary-of-Findings.pdf

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Lower U.S. Prescription Drug Prices Are Vital to Both Patients and ...
As shown in Exhibit 1, in 2000, brand name prescription drug makers' prices in the . Merrill Lynch estimates a price-elasticity of demand close to minus 1.0 for . Drugs Fleeces Consumers,” Citizens for a Sound Economy Foundation Issue .
http://dcc2.bumc.bu.edu/hs/pdfs/Lower%20drug%20prices.pdf

Pharmaceutical Manufacturing Efficiency, Drug Prices, and Public ...
sensitivity of drug consumption to drug prices (the own-price elasticity of . and these lower prices will lead to gains in consumer surplus (the difference between .
http://www.nipte.org/docs/Exec_Summary_JV%20Paper.pdf

Chicago GSB | Capital Ideas
In spite of the efforts of the police, military, FBI, CIA, Drug Enforcement Agency . If consumers are more price-sensitive, this indicates that demand is elastic; .
http://www.chicagobooth.edu/capideas/may05/battletactics.html

THE PHARMACEUTICAL INDUSTRY
expenditures. Insurance coverage tends to make demand less price-elastic, . consumer groups and the pharmaceutical industry. Early studies (by, for example .
http://encyclo.findlaw.com/5880book.pdf

The Price Elasticity of Demand for Pharmaceuticals amongst High ...
Feb 2, 2008 . Pharmaceutical Benefits Scheme (PBS). The price elasticity of consumer demand determines how total expenditure responds to price. It is also .
http://ro.uow.edu.au/cgi/viewcontent.cgi?article=1186&context=commwkpapers

“You Get What you Copay For” The Influence of Patient Copayments ...
Results suggest that relative copayments imposed by insurers have a significant impact on consumer choice of a statin. . 2.1.2 Prescription Drug Price Elasticity.
http://econ.ucsb.edu/papers/wp16-02.pdf

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Drug price regulation under consumer moral hazard. Two-part tariffs ...
Drug price regulation under consumer moral hazard. . optimal mark-ups on marginal costs are inversely related to the price elasticity in the individual markets.
http://www.ncbi.nlm.nih.gov/pubmed/15759171

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Drug price regulation under consumer moral hazard. Two-part tariffs ...
Drug price regulation under consumer moral hazard. . optimal mark-ups on marginal costs are inversely related to the price elasticity in the individual markets.
http://www.ncbi.nlm.nih.gov/pubmed/15759171

Price Elasticity of Hard Drugs
The goal of this paper is to examine the price-elasticity of hard drugs. The main . effect if the consumer can afford it, while the lower incomes will still have the .
http://www.alextreme.org/docs/paper-amaer.pdf

New Economic Thinking on Addiction and Legalization, Executive ...
Any consumer of an addictive substance begins with a first use of that sub- . cates that the Price Elasticity of Demand (PED) for the drug shrinks – that is, the de- .
http://www.namsdl.org/resources/New%20Economic%20Thinking%20on%20Addiction%20and%20Legalization%20Executive%20Summary.pdf

New Estimates of the Demand for Physical and Mental Health ...
Consumers' price responsiveness is central to current reform proposals to . for both mental health and non-mental prescription drugs is substantially more price elastic. . face) should be positively related to the price elasticity of demand—the .
http://meps.ahrq.gov/mepsweb/data_files/publications/workingpapers/wp_06008.pdf

Promotion of Prescription Drugs to Consumers: Case Study Results
KEY WORDS: Direct-to-consumer advertising, Prescription drugs, Promotion. J Managed Care . in the brand's price elasticity), the ad can be withdrawn rela- .
http://www.amcp.org/data/jmcp/Contemporary%20Subjects-512-518.pdf

PRODUCT MARKET DEFINITION IN PHARMACEUTICAL ...
A. The Structure of Pharmaceutical Distribution: Who is the Customer? . 112 Calculating cross-price elasticity of demand based either on patients' or .
https://litigation-essentials.lexisnexis.com/webcd/app?action=DocumentDisplay&crawlid=1&doctype=cite&docid=2011+COLUM.+BUS.+L.+REV.+586&srctype=smi&srcid=3B15&key=984a411458dd31db04fae58c03db99eb

What's Hot:

Consumer Demand for Pharmaceuticals:
There is very little evidence on how drug benefits affect the price elasticity of demand for pharmaceuticals. Mortimer (1997) reports the surprising result that .
http://www.human.cornell.edu/pam/research/centers-programs/pharmaceutical/upload/rizzopaper.pdf

What's Not:

WHAT PRICE DATA TELL US ABOUT DRUG MARKETS
This paper reviews empirical evidence on drug prices and discusses implications for . Illicit drugs are, ultimately, consumer goods, and like other goods in modern . results. Nisbet and Vakil (1972) estimated the price elasticity of demand for .
http://www.publicpolicy.umd.edu/uploads/cms/faculty/reuter/Working%20Papers/What%20Price%20Data%20Tell%20Us.pdf

Our Take:

Illegal Drug Use And Public Policy
Economists use price elasticity of demand to summarize the magnitude of the . penalties imposed on producers and consumers when drugs are illegal.
http://content.healthaffairs.org/content/21/2/134.full

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Economics Interactive Tutorial: Elasticity
Feb 26, 2006 . A patient is given a presciption for a drug to control high blood pressure. . In a market system, demand becomes elastic if consumers are price .
http://hspm.sph.sc.edu/courses/econ/Elast/Elast.html

Information, Marketing, and Pricing
where 2,, is the demand price elasticity. . elasticities for drugs is available, in part because the traditional consumer demand paradigm (utility maximization .
http://stuff.mit.edu/afs/athena/course/15/15.141/readings/antiulcer2.pdf

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Making decisions
Consumers' demand for the generic drugs whose prices Wal-Mart is reducing is most likely. perfectly elastic; Elastic; Unit-elastic; Inelastic; Perfectly inelastic .
http://www.nd.edu/~jwarlick/documents/IntroLec9full.ppt

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  • Is Drug Coverage a Free Lunch? Cross-Price Elasticities and the ...
    Our results show that increases in prescription drug prices reduce both the use of and spending on prescription drugs. However, consumers substitute the use of .
    http://ideas.repec.org/p/bri/cmpowp/07-166.html

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  • Advertising and pharmaceutical prices — Marginal Revolution
    May 14, 2010 . By decreasing the price elasticity of prescription drugs and the pressures . consumer costs–consumers wouldn't purchase or ask for the drug, .
    http://marginalrevolution.com/marginalrevolution/2010/05/advertising-and-pharmaceutical-prices.html

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  • Inelastic Definition | Investopedia
    Even if the price of the drug were to increase dramatically, the quantity . In economics, elasticity refers the degree to which individuals (consumers/ producers) .
    http://www.investopedia.com/terms/e/inelastic.asp

  • Eighth Circuit Not Ready to Move Away from Traditional Market ...
    Dec 2, 2011 . By 2008, when the FTC sued, the consumer prices of both drugs had . the court relied on precedent holding that cross-price elasticity was an .
    http://www.natlawreview.com/article/eighth-circuit-not-ready-to-move-away-traditional-market-definition-process

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  • Informing America's Policy on Illegal Drugs: What We Don't Know ...
    The price elasticity of demand is the percentage change in consumption that is . policies are aimed at increasing the price that consumers must pay for a drug.
    http://www.nap.edu/openbook.php?record_id=10021&page=42

  • Prices, Legalisation and Marijuana Consumption - Drug Policy ...
    Nov 1, 1999 . For all consumers, the gross price elasticity, which includes the effects . Marijuana is the most widely used illicit drug in Western society, and .
    http://www.drugpolicy.org/docUploads/MDPap.pdf

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  • In search of a corrected prescription drug Elasticity estimate: a meta ...
    Jan 22, 2007 . corrected measure of the drug price elasticity by employing . An important issue for third-party payers is whether consumers are sensitive to .
    http://onlinelibrary.wiley.com/doi/10.1002/hec.1190/pdf

  • Direct-to-Consumer Advertising in Pharmaceutical Markets?
    in 1997 for broadcast advertising of prescription drugs directly to consumers, . 2000), detailing tends to reduce the price elasticity of demand, implying an .
    http://heb.rokkan.uib.no/publications/files/87-Notat09_03.pdf

  • Six Trade Promotion Tips: Why Less Can Be More | Nielsen Wire
    Apr 16, 2010 . David Kellen, Director, Price & Promotion Practice . with all the parts moving at once: price elasticity, price gap elasticity, promotion type, . Drug channel consumers, on the other hand, value convenience over price and mass .
    http://blog.nielsen.com/nielsenwire/consumer/six-trade-promotion-tips-why-less-can-be-more/

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By Jim Allen
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