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  • 1
    Electronic Resource
    Electronic Resource
    Deregulation, Mergers, and Cost Savingsin Class I U.S. Railroads, 1974-1986 (1992)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 1 (1992), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: In this paper we attempt to disentangle the effects of deregulation on rail costs from those directly attributable to mergers. We estimate that cost reductions obtained from mergers ranged from a high of 33% for the Burlington Northern to a low of a 3% cost increase for the CSX. However, firms not engaged in significant merger activities experienced similar cost differentials indicating that consolidation was not a prerequisite for cost savings. We conclude that although mergers did confer some benefits on the participating firms, they were not a prerequisite for railroads being able to achieve substantial cost savings.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1992.00339.x
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    Paper (German National Licenses)
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  • 2
    Electronic Resource
    Electronic Resource
    Costs, Institutional Mobility Barriers, and Market Structure: Advertising Agencies as Multiproduct Firms (1994)
    Oxford, UK : Blackwell Publishing Ltd
    Journal of economics & management strategy 3 (1994), S. 0 
    Details
    ISSN: 1530-9134
    Source: Blackwell Publishing Journal Backfiles 1879-2005
    Topics: Economics
    Notes: What accounts for the diversity and limited concentration that has long characterized the organization of the advertising agency industry? This question is addressed by treating an advertising agency as a multiproduct firm. The firm's product line or service mix is defined in terms of the set of different media categories where an agency places the advertising messages that it creates on behalf of its clients. Evidence is presented indicating that the structure of demand and costs in the advertising agency industry conforms to the conditions that MacDonald and Slivinski showed were required for an industry to sustain an equilibrium with diversified firms.Building on this framework, we formulate a set of three hypotheses relating to the realization of product-specific scale and scope economies. The first two hypotheses posit that given low fixed costs and minimal entry barriers, both media-specific scale and scope economies are available and can be exploited by relatively small-size agencies. The third hypothesis suggests that large agencies may experience diseconomies of scope as a consequence of excessive diversification induced by two pervasive industry institutional phenomena: (1) “bundling” of agency services to match client demand for a mix of media advertising, and (2) “conflict policy,” which prohibits an agency from serving competing accounts and operates as a mobility constraint.Utilizing a multiproduct cost function, we estimate media-specific scale and scope economies for a cross section of 401 U.S. agencies in 1987. The results obtained support the set of three hypotheses outlined above. The paper concludes with a discussion of the implications of these findings for the restructuring currently underway in this industry.
    Type of Medium: Electronic Resource
    URL: http://dx.doi.org/10.1111/j.1430-9134.1994.00437.x
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  • 3
    Electronic Resource
    Electronic Resource
    Assessing the Impacts of the Prescription Drug User Fee Acts (PDUFA) on the FDA Approval Process (2005)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 8 (2005), S. 2 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: Congress enacted and renewed the Prescription Drug User Fee Acts (PDUFA) in 1992, and renewed it in 1997 and 2002, mandating FDA performance goals in reviewing and acting on drug applications within specified time periods. In turn, the FDA was permitted to levy user fees on drug sponsors submitting applications to the FDA. While PDUFA mandated action or review times, its ultimate impacts on actual final drug approval times are unknown. We model and quantify the impact of PDUFA-I and II on drug approval times, since these approval dates are the ones most directly related to new medicines becoming available to benefit patients.In assessing the impacts of PDUFA on drug approval times, it is noteworthy that approval times were trending downwards at 1.7% percent per year prior to implementation of PDUFA. Assuming continuation of that time trend, approval times post-PDUFA would have fallen even in the absence of PDUFA. Our principal finding is that PDUFA accelerated this downward trend so that instead of a counterfactual 6% reduction in approval times from 24.2 to 20.4 months in absence of these acts between 1991 and 2002, there was an observed decline of about 42%, from 24.2 to 14.2 months, following implementation of PDUFA. Thus, of the total observed decline in approval times between 1991 and 2002, approximately two-thirds can be attributed to PDUFA. However, much of this impact occurred in the initial years between 1992 and 1997 (PDUFA-I) rather than during the subsequent 1997-2002 time frame (PDUFA-II). We discuss implications of these findings and how future research might quantify the social value of the observed acceleration in the FDA drug approvals.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/8/2
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  • 4
    Electronic Resource
    Electronic Resource
    Is Price Inflation Different for the Elderly? An Empirical Analysis of Prescription Drugs (1998)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 1 (1998), S. 3 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: Recently controversy has surrounded the issue of whether Social Security payments to the elderly should continue to be adjusted automatically according to changes in the Consumer Price Index (CPI). One issue in the public policy debate concerns whether price inflation is different for the elderly, particularly because the official Bureau of Labor Statistics price indexes for medical care have been growing more rapidly than the overall CPI, and medical care expenditures constitute a larger proportion of the elderly's budget than of the young's.Using annual IMS data from 1990 to 1996, we examine empirically whether elderly-nonelderly price inflation differentials exist for prescription pharmaceuticals. We assess prices for prescription drugs destined for ultimate use by the elderly versus the nonelderly at three points in the distribution chain: initial sales from manufacturers, intermediate purchases by retail pharmacies, and final sales from retail pharmacies to patients or payors. We find that at the initial point in the distribution chain, no differences in price inflation exist for the aggregate of drugs destined for use by the elderly versus those for the nonelderly. At the intermediate sell-in point to pharmacy distribution, we examine antibiotics (ABs), antidepressants (ADs), and calcium channel blockers (CCBs). For ABs, since 1992 price inflation has been somewhat greater for the elderly than for the young, reflecting in part the elderly's more intensive use of newer branded products having fewer side effects, adverse drug interactions and more convenient dosing--attributes of particular importance to the elderly. For ADs, price inoation is considerably less for the elderly than for the young, due in large part to the elderly's greater use of older generic products. For CCBs, elderly-nonelderly differentials are negligible. None of these differentials adjust for variations in quality.At the final retail sell-out point, we examine only ADs. We find that because retailers obtain larger gross margins on generic than on branded products, and because the elderly are disproportionately large users of generic ADs, the elderly-nonelderly price inflation differential benefiting the elderly at the intermediate point is reduced considerably at final sale.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/1/3
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  • 5
    Electronic Resource
    Electronic Resource
    Real Output in Mental Health Care during the 1990s (2006)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 9 (2006), S. 5 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: Health accounts document changes over time in the level and composition of health spending. There has been a continued evolution in the ability to track such outlays. Less rapid has been the ability to interpret changes in spending. In this paper we apply quality adjusted price indexes for several major mental disorders to national mental health expenditure account estimates to assess changes in real "output". We show that using the new price indexes reveals large gains in real output relative to the application of the U.S. Bureau of Labor Statistics' indexes.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/9/1/5
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  • 6
    Electronic Resource
    Electronic Resource
    Demand Effects of Recent Changes in Prescription Drug Promotion (2003)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 6 (2003), S. 2 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: The release of clarified Food and Drug Administration (FDA) guidelines and independent changes in consumer behavior provide an opportunity to study the effects of direct-to-consumer advertising (DTCA) in the prescription drug market alongside the effects of various physician-oriented promotions. We examine the effects of DTCA and detailing for brands in five therapeutic classes of drugs, using monthly aggregate U.S. data from August 1996 through December 1999. In terms of impact of DTCA on demand, we provide evidence on two issues: (1) do increases in DTCA increase the market size of an entire therapeutic class? and (2) does DTCA increase within-class market share of advertised drugs? Our findings suggest that, for these classes of drugs, DTCA has been effective primarily through increasing the size of the entire class. Overall, we estimate that 13 to 22 percent of the recent growth in prescription drug spending is attributable to the effects of DTCA.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/6/2
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  • 7
    Electronic Resource
    Electronic Resource
    Benefit Plan Design and Prescription Drug Utilization Among Asthmatics: Do Patient Copayments Matter? (2004)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 7 (2004), S. 5 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: The ratio of controller-to-reliever medication use has been proposed as a measure of treatment quality for asthma patients. In this study we examine the effects of plan-level mean out-of-pocket asthma medication patient copayments and other features of benefit plan design on the use of controller medications alone, controller and reliever medications (combination therapy), and reliever medications alone. The 1995-2000 MarketScanTM claims data were used to construct plan-level out-of-pocket copayment and physician/practice prescriber preference variables for asthma medications. Separate multinomial logit models were estimated for patients in fee-for-service (FFS) and non-FFS plans relating benefit plan design features, physician/practice prescribing preferences, patient demographics, patient comorbidities, and county-level income variables to patient-level asthma treatment patterns. We find that the controller-to-reliever ratio rose steadily over 1995-2000, along with out-of-pocket payments for asthma medications, which rose more for controllers than for relievers. After controlling for other variables, however, plan-level mean out-of-pocket copayments were not found to have a statistically significant influence on patient-level asthma treatment patterns. On the other hand, physician/practice prescribing patterns strongly influenced patient-level treatment patterns. There is no strong statistical evidence that higher levels of out-of-pocket copayments for prescription drugs influence asthma treatment patterns. However, physician/practice prescribing preferences influence patient treatment.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/7/5
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    Paper (German National Licenses)
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  • 8
    Electronic Resource
    Electronic Resource
    Creating Price Indexes for Measuring Productivity in Mental Health Care (2001)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Forum for health economics & policy 4 (2001), S. 6 
    Details
    ISSN: 1558-9544
    Source: Berkeley Electronic Press Academic Journals
    Topics: Medicine , Economics
    Notes: Economists have long suggested that to be reliable, a preferred medical care price index should employ time-varying weights to measure outcomes-adjusted changes in the price of treating an episode of illness. In this article, we report on several years of research developing alternative indexes for the treatment of the acute phase of major depression, for the period 1991-1996. The introduction of new treatment technologies in the past two decades suggests well-known measurement issues may be prominent in constructing such a price index.We report on the results of four successively re
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/fhep/4/6
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  • 9
    Electronic Resource
    Electronic Resource
    Holding Company Cost Economies in the Global Advertising and Marketing Services Business (2004)
    Berkeley, Calif. : Berkeley Electronic Press (now: De Gruyter)
    Review of marketing science 2.2004, 1, art5 
    Details
    ISSN: 1546-5616
    Source: Berkeley Electronic Press Academic Journals
    Topics: Economics
    Notes: We assess size and scope-related economies in the global advertising and marketing services business. A translog cost function is employed wherein a firm's costs vary according to its scale and two dimensions of the scope of its operations. One dimension of firm scope relates to how its output is distributed across the global markets it serves (domestic vs. overseas) and the other to how its output is distributed across the line of services it offers (advertising-related vs. other marketing services). Parameters of the model are estimated via three stage least squares using annual data (1989-2001) for an unbalanced panel consisting of the eight largest holding companies in this industry. A firm's total variable costs are affected by its scale, scope (mix of services and markets served), and by the interaction of the two dimensions of scope. The latter effect suggests that cost economies may accompany the dual diversification strategy of jointly offering advertising and marketing services globally. Estimates indicate that the industry's long-run cost function is subject to very slight economies of scale, i.e., total variable costs increase less than proportionally as outputs increase. Consistent with the presence of modest global scale economies, product-specific diseconomies of scale accompany growth in volume obtained by extending either breadth of service offerings or market coverage. Scope economies arise when cost savings can be realized by a single firm jointly producing several services or jointly serving multiple markets as compared to splitting up the firm into smaller, stand-alone entities, each one producing just one service or serving a single market. A small cost advantage, typically of approximately two percent, is uniformly associated with joint production of services for both the domestic and overseas markets. Cost savings of a similar magnitude arise consistently from the joint production of advertising as well as other marketing services.
    Type of Medium: Electronic Resource
    URL: http://www.bepress.com/romsjournal/vol2/iss1/art5
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  • 10
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    Energy Price Shocks and Productivity Growth in US and UK Manufacturing (1986)
    Oxford : Periodicals Archive Online (PAO)
    Oxford review of economic policy. 2:3 (1986:Autumn) 1 
    Details
    ISSN: 0266-903X
    Topics: Economics
    Notes: Part Two
    URL: http://gateway.proquest.com/openurl?url_ver=Z39.88-2004&res_dat=xri:pao:&rft_dat=xri:pao:article:f637-1986-002-03-000003
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