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Innovation and market dynamics in the EPO market

Enrico Sorisio and Steinar Strøm
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Enrico Sorisio: PharmaNess scarl; University of Turin, Postal: Italy

No 2006:3, HERO Online Working Paper Series from University of Oslo, Health Economics Research Programme

Abstract: In this paper we study the demand and supply of erythropoietin in four Nordic countries, using an econometric model based on discrete choice and a random utility model. It measures the effect of price changes as well as the loyalty of patients and physicians to a drug. Our main aims are to estimate demand for EPO and to determine the degree of competition in this Nordic market. The main motivation for this paper is to analyze the impact of product innovation on market power and welfare, e.g. on consumer and producer surplus. The product innovation is the entry of Aranesp in the Nordic market.

Keywords: Discrete choice; demand for pharmaceuticals; monopolistic competition; EPO (search for similar items in EconPapers)
JEL-codes: C35 D43 I18 L11 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-com, nep-cse, nep-dcm, nep-hea, nep-knm, nep-mic and nep-tid
Date: 2009-06-04
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