Launch Decisions of Pharmaceutical Companies

This paper models the launch decision of pharmaceutical companies in regard to new drugs and country markets. New drugs are launched with a delay or not launched at all in many countries. Considering that many of these new drugs would have created health benefits to the patients, there seems to be welfare loss. We use market characteristics to explain this phenomenon. We show that most of the estimated launch with a delay and no-launch decision is due to observable market characteristics. The model has an accuracy of 70 percent in explaining the no-launch decision. Intellectual property rights protection is especially important. The policy implication is that stronger property rights increase the likelihood and speed of new drug launch

THE EFFECT OF PUBLIC SECTOR INVESTMENTS ON SOCIOECONOMIC DEVELOPMENT IN TURKEY

In this paper, we analyze the effects of public investments done between years 1999 and 2002 in 76 provinces (il) of Turkey on the socioeconomic development of those provinces during the period of 1996-2003. We consider public investments in the areas of agriculture, health, education, transportation and telecommunication and others. Our objective is to find which area of public investments has provided the largest socioeconomic improvement. Given the scarce resources and a history of large deficits of the Turkish government’s budget, it is indispensable for the policymaker to know which investment area yields the “largest” improvement per lira invested. In the analysis, we use ordinary least squares and nonparametric estimation techniques. The results obtained from both techniques are robust and point to the same direction: they show that public investments in education area have a significantly positive effect on the socioeconomic improvement of a province per lira invested. Investments in other areas appear to be insignificant in terms of development. The results emphasize the importance of the policymaker’s choice of which area to invest

The Impact of Economic and Political Factors on the 2010 Turkish Referendum

The referendum held on September 12, 2010 included fundamental changes in Turkish constitution related with the social, judicial and economic aspects. We are of the opinion that the referendum offered a general view on the reflections of government policies, since the incumbent party, Justice and Development Party (AKP), officially supported the proposed changes and the main opposition parties, Republican People’s Party (CHP) and Nationalist Action Party (MHP), were opposed. We tested the effects of political tendencies on the referendum results using provincial data. The results show that the “yes” votes are higher in the provinces where AKP has a stronger base, and lower in the provinces where the opposition parties, especially CHP, have stronger bases. Moreover, our analyses imply that referendum votes are higher where economic conditions are getting relatively better in the last year. However, we could not find a positive effect of public spending on the patterns of voting

The Impact of Economic and Political Factors on the 2010 Turkish Referendum

Abstract The referendum held on September 12, 2010 included fundamental changes in Turkish constitution related with the social, judicial and economic aspects. We are of the opinion that the referendum offered a general view on the reflections of government policies, since the incumbent party, Justice and Development Party (AKP), officially supported the proposed changes and the main opposition parties, Republican People's Party (CHP) and Nationalist Action Party (MHP), were opposed. We tested the effects of political tendencies on the referendum results using provincial data. The results show that the "yes" votes are higher in the provinces where AKP has a stronger base, and lower in the provinces where the opposition parties, especially CHP, have stronger bases. Moreover, our analyses imply that referendum votes are higher where economic conditions are getting relatively better in the last year. However, we could not find a positive effect of public spending on the patterns of voting

The Effect of Price on Pharmaceutical R&D

This work extends prior research that finds drug development is driven by demand factors such as mortality rates of the diseases new drugs are aimed at. Here we find that the number of drugs in the development pipeline is strongly positively related to the price of existing drugs treating those diseases. This gives us a direct price elasticity measure from which we can draw some inference about the effect on new drug development that might occur if the pricing regime in the United States were to change.

Public finance

xxii, 588 p. ; 26 cm

1 Corresponding author INFORMATION AND THE PRICE DISPERSION ON THE NET

Abstract: Internet firms charge a wide range of prices for nearly homogeneous products and price dispersion vary significantly across markets. This study is an attempt to explain different levels of price dispersion across online product markets. We found price dispersion vary systematically with the number of firms offering the product and the markets at which consumers are more informed have smaller price dispersion. Moreover prices charged by individual retailers decline as the number of retailers selling the same product rise