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The Silo Effect

My review of Gillian Tett’s book has appeared in the Times Literary Supplement.

Market Size and Pharmaceutical Innovation

This article (joint with Pierre Dubois, Olivier de Mouzon and Fiona Scott Morton), has now appeared in the Rand Journal of Economics, and is available under Open Access.

Abstract:

This article quantifies the relationship between market size and innovation in the pharmaceutical industry using improved, and newer, methods and data. We find significant elasticities of innovation to expected market size with a point estimate under our preferred specification of 0.23. This suggests that, on average, $2.5 billion is required in additional revenue to support the invention of one new chemical entity. This magnitude is plausible given recent accounting estimates of the cost of innovation of $800 million to $1 billion per drug, and marginal costs of manufacture and distribution near 50%.

EDGE Symposium on Napoleon Chagnon

The Symposium is now live here

“Do Women have longer Conversations? Telephone Evidence of Gendered Communication Strategies”

“Do Women have longer Conversations? Telephone Evidence of Gendered Communication Strategies”, Journal of Economic Psychology, December 2010. doi:10.1016/j.joep.2010.12.008. (with Guido Friebel)  [ Download PDF ]

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