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Market Size in Innovation: Theory and Evidence From the Pharmaceutical Industry / Daron Acemoglu, Joshua Linn.
- Format:
- Book
- Author/Creator:
- Acemoglu, Daron.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w10038.
- NBER working paper series no. w10038
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Market Size in Innovation
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2003.
- Summary:
- This paper investigates the effect of (potential) market size on entry of new drugs and pharmaceutical innovation. Focusing on exogenous changes driven by U.S. demographic trends, we find that a 1 percent increase in the potential market size for a drug category leads to a 4 to 6 percent increase in the number of new drugs in that category. This response comes from both the entry of generic drugs and new non-generic drugs, and is generally robust to controlling for a variety of non-profit factors, pre-existing trends
- Notes:
- Print version record
- October 2003.
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