TY  - JOUR
AU  - Cockburn,Iain M.
AU  - Anis,Aslam H.
TI  - Hedonic Analysis of Arthritis Drugs
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6574
PY  - 1998
Y2  - May 1998
UR  - http://www.nber.org/papers/w6574
L1  - http://www.nber.org/papers/w6574.pdf
N1  - Author contact info:
Iain M. Cockburn
School of Management
Boston University
595 Commonwealth Ave
Boston, MA 02215
Tel: 617/588-1486
Fax: 815/550-2353
E-Mail: cockburn@bu.edu

Aslam H. Anis
M1  - published as Iain M. Cockburn, Aslam H. Anis. "Hedonic Analysis of Arthritis Drugs," in David M. Cutler and Ernst R. Berndt, editors, "Medical Care Output and Productivity" University of Chicago Press (2001)

AB  - We examine the relationship between  quality'' and market outcomes for a group of drugs used to treat rheumatoid arthritis. Though this is a widespread and debilitating disease with very substantial impacts on the health of patients and on the economy, currently available drugs have limited efficacy and serious side effects.  Clinical research conducted since these products were approved has resulted in substantial revisions to the body of scientific information available to physicians.  The relative quality' of these drugs (as captured by efficacy and toxicity measurements reported in peer-reviewed clinical trials) has changed markedly over the past 15 years.  Yet in our analysis of US wholesale prices we find that relative prices appear to be only weakly related to quality.  We do however find a relationship between changes in reported efficacy and toxicity and the evolution of quantity shares in this market.
ER  -