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Defining relevant markets for pharmacuticals
Högskolan Dalarna, Akademin Industri och samhälle, Kulturgeografi. HUI Research.ORCID-id: 0000-0003-3362-5755
Högskolan Dalarna, Akademin Industri och samhälle, Nationalekonomi.
2017 (engelsk)Inngår i: Bulletin of Economic Research, ISSN 0307-3378, E-ISSN 1467-8586, Vol. 69, nr 4, s. E126-E149Artikkel i tidsskrift (Fagfellevurdert) Published
Abstract [en]

To identify the relevant product markets for Swedish pharmaceuticals, a spatial econometrics approach is employed. First, we calculate Moran’s Is for different market definitions and then we use a spatial Durbin model to determine the effect of price changes on quantity sold of own and competing products. As expected, the results show that competition is strongest between close substitutes; however, the relevant product markets for Swedish pharmaceuticals extend beyond close substitutes down to products included in the same class on the four-digit level of the Anatomic Therapeutic Chemical system as defined by the World Health Organization. The spatial regression model further indicates that increases in the price of a product significantly lower quantity sold of that product and in the same time increase the quantity sold of competing products. For close substitutes (products belonging to the same class on the seven-digit level of the Anatomic Therapeutic Chemical system), as well as for products that, without being close substitutes, belong to the same therapeutic/pharmacological/chemical subgroup (the same class on the five-digit level of the Anatomic Therapeutic Chemical system), increased competition is also visible after 1 July 2009 when the latest policy changes with regards to pharmaceuticals have been implemented in Sweden.

sted, utgiver, år, opplag, sider
2017. Vol. 69, nr 4, s. E126-E149
Emneord [en]
competition; horizontal merger guidelines; market delineation; market reform; spatial Durbin model
HSV kategori
Forskningsprogram
Komplexa system - mikrodataanalys, Allmänt Mikrodataaanalys - handel
Identifikatorer
URN: urn:nbn:se:du-23605DOI: 10.1111/boer.12106ISI: 000412524800008OAI: oai:DiVA.org:du-23605DiVA, id: diva2:1057330
Tilgjengelig fra: 2016-12-17 Laget: 2016-12-17 Sist oppdatert: 2017-10-27bibliografisk kontrollert

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