This paper presents a dynamic generalization of a model often used to aid marketing decisions relating to conventional products. The model uses stated-preference data in a random-utility framework to predict adoption rates for new pharmaceutical products. In addition, this paper employs a Markov model of patient learning in drug selection. While the simple learning rule presented here is only a rough approximation to reality, this model nevertheless systematically incorporates important features including learning and the influence of shifting preferences on market share. Despite its simplifications, the integrated framework of random-utility and product attribute updating presented here is capable of accommodating a variety of pharmaceutical marketing and development problems. This research demonstrates both the strengths of stated-preference market research and some of its shortcomings for pharmaceutical applications.

Analgesics↗

PubMedDate not supplied

Eliciting stated health preferences: an application to willingness to pay for longevity.

The economic analysis of many health policies requires evaluation of the benefits of programs that may prolong human lives. This article contributes to the development of credible values for longevity, demonstrating the feasibility of applying stated-preference market-research techniques to a new area of preference revelation and framing the problem as extending longevity under realistic health states associated with advanced age. Respondents to the authors' stated-preference survey clearly indicated that quality of life affects the value of quantity of life. The results demonstrate the sensitivity of life-extension values to specific health and activity-limitation conditions. The article also discusses problems that remain to be solved before valid and reliable longevity values can be obtained.

Adolescent↗

PubMedDate not supplied

Standards of care for pediatric surgery.

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Child↗