Hedonic Analysis of Arthritis Drugs

Iain M. Cockburn and Aslam H. Anis

in Medical Care Output and Productivity

Published by University of Chicago Press

Published in print April 2001 | ISBN: 9780226132266
Published online February 2013 | e-ISBN: 9780226132303 | DOI:
Hedonic Analysis of Arthritis Drugs

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Rheumatoid arthritis (RA) is a painful, debilitating, and progressive disease which affects millions of people worldwide. Two principal classes of drugs are used to treat RA: nonsteroidal antiinflammatory drugs and disease-modifying antirheumatic drugs. This chapter examines the market for a group of drugs used to treat RA during the period 1980–1992. Unlike some previous work on the hedonics of pharmaceutical products, it pays little attention to differences in the dosage regimen. The chapter begins with a brief review of the nature of RA and its treatment. It then discusses issues related to the measurement of the relative efficacy and toxicity of drug treatments for RA. Next, it presents economic data on the market for a specific set of drugs used in the treatment of severe RA and considers them in the context of models of demand for differentiated products. Finally, the chapter suggests alternative approaches that may provide some additional insight, in particular analysis of the role of advertising and promotional expenditures. Primary measures of efficacy and toxicity are computed from the reported results of published clinical trials.

Keywords: rheumatoid arthritis; nonsteroidal antiinflammatory drugs; antirheumatic drugs; efficacy; toxicity; demand; advertising; clinical trials; hedonics

Chapter.  9680 words.  Illustrated.

Subjects: Econometrics and Mathematical Economics

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