cnsmr_dmnd_intro

cnsmr_dmnd_intro - Overview: Demand Demand for Anti-Ulcer...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
1 Overview: Demand • Demand for Anti-Ulcer Drugs – Data, Estimation – Interpretation of Empirical Results • Modeling of Consumer Choice Demand Analysis • Today – Empirical Demand Analysis – Modeling of Consumer Demand •L a t e r – Demand and Product Characteristics – Discrete Choice Models – Network Effects – Dynamic Adjustments in Demand
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2 Market Demand for Anti Ulcer Drugs • Typical Empirical Application – Rapid Growth Market – Changes in Market Structure • Focus on Price Effects and Advertising Effects – Price Elasticity and Advertising Elasticity • Example of Practical Modeling Considerations Market Demand for Anti-Ulcer Drugs • Monthly Observations, Aug. 1977 - May 1993 • Four Drugs: Tagamet, Axid, Pepcid, Zantac Prescription (prior to OTC versions) • Variables LQ - Log (Market Quantity) LP - Log (Market Price) LADV - Log (Cumulative Advertising) T - Time Trend • Data Source: Berndt, Bui, Reiley and Urban (1994)
Background image of page 2
3 Market Demand for Anti-Ulcer Drugs • Model is of the Form:
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 10/20/2011 for the course SLOAN 15.010 taught by Professor Berndt during the Fall '04 term at MIT.

Page1 / 8

cnsmr_dmnd_intro - Overview: Demand Demand for Anti-Ulcer...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online