THE LOCAL INFLUENCE OF PIONEER INVESTIGATORS ON TECHNOLOGY ADOPTION: EVIDENCE FROM NEW CANCER DRUGS

Local opinion leaders may play a key role in easing information frictions associated with technology adoption. This paper analyzes the influence of physician investigators who lead clinical trials for new cancer drugs. By comparing diffusion patterns across 21 new cancer drugs, we separate correlate...

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Bibliographic Details
Published in:The review of economics and statistics 2018-03, Vol.100 (1), p.29-44
Main Authors: Agha, Leila, Molitor, David
Format: Article
Language:English
Subjects:
Cancer
Clinical research
Clinical trials
Information technology
New technology
Opinion leaders
Physicians
Technology adoption
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Summary:Local opinion leaders may play a key role in easing information frictions associated with technology adoption. This paper analyzes the influence of physician investigators who lead clinical trials for new cancer drugs. By comparing diffusion patterns across 21 new cancer drugs, we separate correlated regional demand for new technology from information spillovers. Patients in the lead investigator’s region are initially 36% more likely to receive the new drug, but utilization converges within four years. We also find that superstar physician authors, measured by trial role or citation history, have broader influence than less prominent authors.
ISSN:0034-6535
1530-9142
DOI:10.1162/REST_a_00670