Retail Pharmacy in Melbourne: Actual and Optimal Densities

Michael Waterson

Journal of Industrial Economics, 1993, vol. 41, issue 4, 403-19

Abstract: This paper models retail pharmacy distribution in terms of a quasimonopolistically competitive market structure in which government remuneration determines industry numbers. The model is calibrated using industry estimates for metropolitan Melbourne and comparisons are made with actual pharmacy numbers, with reasonable results. Some normative implications are also drawn, based upon the use of a social loss function. Copyright 1993 by Blackwell Publishing Ltd.

Date: 1993
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