Because of its unique institutional and regulatory features, the generic drug industry provides a useful laboratory for understanding how competition evolves. We exploit these features to estimate a system of structural relationships in this industry, including the relationship between price and the number of competitors, and between drug characteristics and the entry process. Our methodology yields a number of findings regarding industry dynamics. We find that generic drug prices fall with increasing number of competitors, but remain above long-run marginal cost until there are eight or more competitors. We also find the size and time paths of generic revenues, rents, and the number of firms are greatly affected by expected market size. Finally, we show how estimates derived from a system of structural equations can be used to simulate the effect of changes in an exogenous variable. © 2005 President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation.Abstract Recent interest in the Internet as a medium for commerce has raised questions about the usefulness of branding on the World Wide Web. Examines whether consumers use brands as sources of information when shopping on the Internet. Applying theory from the economics of information, predicts that recent adopters of the Internet will be less proficient at searching for product information and will rely more on brands. As they gather more experience on the Internet, their search proficiency should rise and their brand reliance should fall. These hypotheses are tested and confirmed using usage and opinion survey data from the Internet community. The results suggest that branding can facilitate consumers' acceptance of electronic commerce.

Heterogeneous gas‐solid catalyst reactions occur on the atomic scale and there is increasing evidence single atoms and very small clusters can act as primary active sites in chemical reactions. Aberration corrected environmental scanning transmission electron microscope (AC ESTEM) has been developed for novel studies of nanoparticle catalysts with Angstrom (0.1 nm) resolution in gas. It extends high vacuum analyses with full analytical facilities and unrestricted high angle annular dark field (HAADF) imaging of single atoms, small clusters and nanoparticles in dynamic in‐situ experiments with controlled gas reaction environments at initial operating temperatures up to > 500 °C.