John M. Vernon

Professor Vernon received his B.ME at Georgia Tech, an MBA at the University of Mississippi, and Ph.D. in Economics at M.I.T. He has held visiting appointments at Harvard University and the Marketing Science Institute in Cambridge, MA., and the University of Bristol (U.K.). He served as Chairman of the Duke Economics Department between 1987 and 1989. Professor Vernon's current research interests are applied microeconomics and the economics of regulation with particular reference to the pharmaceutical industry. He has published on various aspects of pharmaceutical economics including dynamic competition, promotion, patents, generic competition and returns to innovation. In 1983, his co-authored major study of the impact of FDA regulation on that industry was published. Co-author of several books, including texts in managerial economics, linear programming and microeconomics decision models, Economics of Regulation and Antitrust (with W. Kip Viscusi and J.E. Harrington, Jr.) was published in 1992. Other publications have appeared in the American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Journal of Law and Economics and Management Science. Professor Vernon teaches a section of Microeconomic Principles (Econ 149), Business and Government (Econ 189), and a graduate seminar, Industry and Government Problems (Econ 389).
Recent Research
Longer Patents for Increased Generic Competition: The Waxman-Hatch Act after One Decade, PharmacoEconomics, 1996
R and D Costs, Innovative Output and Firm Size in the Pharmaceutical Industry, International Journal of the Economics of Business, 1995
The Vaccine Industry: R and D and Public Policy

Office Information
Office hrs:
302 Social Sciences
(919) 660-1829
(919) 684-8974
Tu 3:30-4:30 pm, Th 9:30-10:30 am
Selected Publications
"Longer Patents for Lower Imitation Barriers: The 1984 Drug Act" (with H. Grabowski), American Economic Review, 1986
"Brand Loyalty, Entry and Price Competion in Pharmaceuticals after the 1984 Drug Act," Journal of Law of Economics, 1992
"Returns to R and D on New Drug Introductions in the 1980's" (with H. Grabowski), Journal of Health Economics, 1994
Economics of Regulation and Antitrust (with W.K. Viscusi and J. Harrington), 1995

Course Descriptions
Microeconomic Theory (Econ 149)
Business and Government (Econ 189)
Industry and Government Problems (Econ 389)

Prof. Vernon's Vita

Duke Economics Department, WWW Resource.
Last modified: Mon Jun 16 14:17:57 EDT 2003