creating an internal market for pharmaceuticals can be analysed. In a model of third-degree price discrimination, arbitrage … Market in pharmaceuticals are ambiguous, since a movement from segmented and price-controlled markets towards integrated …

pharmaceuticals, specifically drug reformulation regulatory gaming. …

the hypothesis that innovation in pharmaceuticals is becoming more difficult and expensive over time, as costs of …

pharmaceuticals. We challenge this orthodox view and show, to the contrary, that the pace of innovation often is faster in a world …

from the US, Germany and France to identify country-specific demand models and then recover price cost margins under the …-ulcer drugs that allows us to explore the drivers of demand, to identify whether regulation in France truly affects margins and … sales quantities by displacing part of the demand from generics to branded drugs. …

When a supply and demand model is recursive, with errors uncorrelated across the two equations, ordinary least squares …

We model the demand-pressure effect on prices when options cannot be perfectly hedged. The model shows that demand … option. Similarly, the demand pressure increases the price of any other option by an amount proportional to the covariance of … show that demand-pressure effects contribute to well-known option-pricing puzzles. Indeed, time-series tests show that …