{"id":"https://openalex.org/W2530482913","doi":"https://doi.org/10.3386/w22720","title":"A Ricardian-Demand Explanation for Changing Pharmaceutical R&D Productivity","display_name":"A Ricardian-Demand Explanation for Changing Pharmaceutical R&D Productivity","publication_year":2016,"publication_date":"2016-10-01","ids":{"openalex":"https://openalex.org/W2530482913","doi":"https://doi.org/10.3386/w22720","mag":"2530482913"},"language":"en","primary_location":{"id":"doi:10.3386/w22720","doi":"https://doi.org/10.3386/w22720","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22720","pdf_url":"https://doi.org/10.3386/w22720","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","is_traditional":false,"indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w22720","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5072048687","display_name":"Mark V. Pauly","orcid":"https://orcid.org/0000-0003-4957-4825","observed_orcids":["https://orcid.org/0000-0003-4957-4825"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I79576946","display_name":"University of Pennsylvania","ror":"https://ror.org/00b30xv10","country_code":"US","type":"education","lineage":["https://openalex.org/I79576946"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Mark Pauly","raw_affiliation_strings":["Health Care Management Department The Wharton School University of Pennsylvania 208 Colonial Penn Center 3641 Locust Walk Philadelphia , PA 19104-6218 and","Health Care Management Department The Wharton School University of Pennsylvania 208 Colonial Penn Center 3641 Locust Walk Philadelphia, PA 19104-6218","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","Working Paper No. 22720"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Health Care Management Department The Wharton School University of Pennsylvania 208 Colonial Penn Center 3641 Locust Walk Philadelphia , PA 19104-6218 and","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"Health Care Management Department The Wharton School University of Pennsylvania 208 Colonial Penn Center 3641 Locust Walk Philadelphia, PA 19104-6218","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Working Paper No. 22720","institution_ids":[]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5028580720","display_name":"Kyle Roy Myers","orcid":"https://orcid.org/0000-0003-2557-0344","observed_orcids":["https://orcid.org/0000-0003-2557-0344"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I79576946","display_name":"University of Pennsylvania","ror":"https://ror.org/00b30xv10","country_code":"US","type":"education","lineage":["https://openalex.org/I79576946"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Kyle Myers","raw_affiliation_strings":["Health Care Management & Economics Department The Wharton School University of Pennsylvania 4th Floor, Colonial Penn Center 3641 Locust Walk Philadelphia, PA 19104-6218","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","Working Paper No. 22720"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Health Care Management & Economics Department The Wharton School University of Pennsylvania 4th Floor, Colonial Penn Center 3641 Locust Walk Philadelphia, PA 19104-6218","institution_ids":["https://openalex.org/I79576946"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"Working Paper No. 22720","institution_ids":[]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11792","display_name":"Pharmaceutical Economics and Policy","score":0.9765999913215637,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11792","display_name":"Pharmaceutical Economics and Policy","score":0.9765999913215637,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12851","display_name":"Firm Innovation and Growth","score":0.01759999990463257,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.0017000000225380063,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/ricardian-economics","display_name":"Ricardian economics","score":0.6480000019073486},{"id":"https://openalex.org/keywords/r-d-investment","display_name":"R&D investment","score":0.5669999718666077},{"id":"https://openalex.org/keywords/fixed-costs","display_name":"fixed costs","score":0.546999990940094},{"id":"https://openalex.org/keywords/marginal-product","display_name":"marginal productivity","score":0.6510000228881836},{"id":"https://openalex.org/keywords/therapy-groups","display_name":"therapeutic groups","score":0.8090000152587891},{"id":"https://openalex.org/keywords/pharmaceutical-industry","display_name":"pharmaceutical industry","score":0.3840000033378601}],"concepts":[{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.7469969987869263},{"id":"https://openalex.org/C204983608","wikidata":"https://www.wikidata.org/wiki/Q2111958","display_name":"Productivity","level":2,"score":0.7114806175231934},{"id":"https://openalex.org/C2779652045","wikidata":"https://www.wikidata.org/wiki/Q507443","display_name":"Pharmaceutical industry","level":2,"score":0.48452991247177124},{"id":"https://openalex.org/C139876678","wikidata":"https://www.wikidata.org/wiki/Q524004","display_name":"Production function","level":3,"score":0.4647125005722046},{"id":"https://openalex.org/C2778348673","wikidata":"https://www.wikidata.org/wiki/Q739302","display_name":"Production (economics)","level":2,"score":0.4506346583366394},{"id":"https://openalex.org/C109747225","wikidata":"https://www.wikidata.org/wiki/Q815758","display_name":"Scarcity","level":2,"score":0.4324271082878113},{"id":"https://openalex.org/C182365436","wikidata":"https://www.wikidata.org/wiki/Q50701","display_name":"Variable (mathematics)","level":2,"score":0.4302181899547577},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.3360399305820465},{"id":"https://openalex.org/C145236788","wikidata":"https://www.wikidata.org/wiki/Q28161","display_name":"Labour economics","level":1,"score":0.32220953702926636},{"id":"https://openalex.org/C149782125","wikidata":"https://www.wikidata.org/wiki/Q160039","display_name":"Econometrics","level":1,"score":0.3213878273963928},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.20464223623275757},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.0},{"id":"https://openalex.org/C134306372","wikidata":"https://www.wikidata.org/wiki/Q7754","display_name":"Mathematical analysis","level":1,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C98274493","wikidata":"https://www.wikidata.org/wiki/Q128406","display_name":"Pharmacology","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.3386/w22720","doi":"https://doi.org/10.3386/w22720","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22720","pdf_url":"https://doi.org/10.3386/w22720","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"}],"best_oa_location":{"id":"doi:10.3386/w22720","doi":"https://doi.org/10.3386/w22720","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w22720","pdf_url":"https://doi.org/10.3386/w22720","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/8","display_name":"Decent work and economic growth","score":0.48510000109672546}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W2530482913.pdf","grobid_xml":"https://content.openalex.org/works/W2530482913.grobid-xml"},"referenced_works_count":20,"referenced_works":["https://openalex.org/W1515142069","https://openalex.org/W1895993106","https://openalex.org/W1972230848","https://openalex.org/W2043391753","https://openalex.org/W2090672746","https://openalex.org/W2107077262","https://openalex.org/W2112392944","https://openalex.org/W2112745877","https://openalex.org/W2121175754","https://openalex.org/W2148790858","https://openalex.org/W2162740029","https://openalex.org/W2164378281","https://openalex.org/W2170879798","https://openalex.org/W2172174118","https://openalex.org/W2622853774","https://openalex.org/W3121479344","https://openalex.org/W3122014096","https://openalex.org/W3123563168","https://openalex.org/W3125222439","https://openalex.org/W6676423304"],"related_works":["https://openalex.org/W2955384056","https://openalex.org/W4412752731","https://openalex.org/W3122014724","https://openalex.org/W4385318987","https://openalex.org/W3124046328","https://openalex.org/W2502688713","https://openalex.org/W1496784087","https://openalex.org/W7028760554","https://openalex.org/W7208485144","https://openalex.org/W2517088913"],"abstract_inverted_index":{"This":[0],"paper":[1],"examines":[2],"trends":[3],"in":[4,23,36,66,90,105,121],"the":[5,9,13,31,54,63,91,98,106,130,143],"aggregate":[6],"productivity":[7,22,108,128],"of":[8,25,97,109,146],"pharmaceutical":[10],"sector":[11],"over":[12,38],"past":[14],"three":[15],"decades.We":[16],"incorporate":[17],"Ricardo's":[18],"insight":[19],"about":[20],"demand-driven":[21],"settings":[24],"variable":[26],"scarce":[27],"resources,":[28],"and":[29,70,82],"estimate":[30],"industry's":[32,92],"responsiveness":[33],"to":[34,46,78,138],"changes":[35],"demand":[37],"this":[39],"timeframe":[40],"using":[41],"therapeutic":[42],"class-specific":[43],"data.In":[44],"contrast":[45],"many":[47],"analyses,":[48],"our":[49],"empirical":[50],"estimates":[51],"indicate":[52],"that":[53,112,133],"industry":[55,110],"has":[56],"\"met":[57],"demand\"":[58],"with":[59],"remarkable":[60],"consistency":[61],"since":[62],"late-1980s.The":[64],"growth":[65],"total":[67],"R&D":[68,72],"spending,":[69],"therefore":[71],"costs":[73,94],"per":[74],"new":[75],"drug,":[76],"appear":[77],"have":[79,135],"been":[80],"profitable":[81],"productive":[83],"investments.While":[84],"we":[85,118],"identify":[86],"a":[87],"significant":[88,115],"increase":[89],"fixed":[93],"-the":[95],"intercept":[96],"production":[99],"function":[100],"-we":[101],"find":[102],"no":[103],"decline":[104],"marginal":[107],"investments":[111],"might":[113],"suggest":[114],"supply-side":[116],"frictions.While":[117],"cannot":[119],"diagnose":[120],"detail":[122],"why":[123],"average,":[124],"but":[125],"not":[126],"marginal,":[127],"declined,":[129],"data":[131],"suggests":[132],"firms":[134],"finally":[136],"begun":[137],"compete":[139],"down":[140],"returns":[141],"from":[142],"supranormal":[144],"levels":[145],"decades":[147],"past.":[148]},"counts_by_year":[{"year":2025,"cited_by_count":1}],"updated_date":"2026-10-16T09:59:22.235173","created_date":"2016-10-21T00:00:00"}
