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).
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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
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Office Information
Office:
Phone:
Email:
Fax:
Office hrs:
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302 Social Sciences
(919) 660-1829
vernon@econ.duke.edu
(919) 684-8974
Tu 3:30-4:30 pm, Th 9:30-10:30 am
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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
[More]
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Course Descriptions
Microeconomic Theory (Econ 149)
Business and Government (Econ 189)
Industry and Government Problems (Econ 389)
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Links
Prof. Vernon's Vita
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