Abstract：
:We study the short- and long-term price effects of the number of competing firms, using panel-data on 1303 distinct pharmaceutical markets for 78 months within a reference-price system. We use actual transaction prices in an institutional setting with little scope for non-price competition and where simultaneity problems can be addressed effectively. In the long term, the price of generics is found to decrease by 81% when the number of firms selling generics with the same strength, form and similar package size is increased from 1 to 10. Nearly only competition at this fine-grained level matters; the effect of firms selling other products with the same active substance, but with different package size, form, or strength, is only a tenths as large. Half of the price reductions take place immediately and 70% within three months. Also, prices of originals are found to react to competition, but far less and much slower.
journal_name
J Health Econjournal_title
Journal of health economicsauthors
Granlund D,Bergman MAdoi
10.1016/j.jhealeco.2018.06.009subject
Has Abstractpub_date
2018-09-01 00:00:00pages
1-12eissn
0167-6296issn
1879-1646pii
S0167-6296(17)30975-Xjournal_volume
61pub_type
杂志文章abstract：:In a 1975 paper, Neuhauser and Lewicki analysed a colorectal cancer screening policy approved by the American Cancer Society. Their analysis yielded an incremental cost per case detected in excess of $47 million. This vivid demonstration of the impact of marginal analysis is frequently cited by health economists and i...
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