John M Vernon, Professor Emeritus

Please note: John has left the "Economics" group at Duke University; some info here might not be up to date.

John M. Vernon is Professor Emeritus at Duke University where he joined the faculty in 1966. He became a full professor in 1972, and held the position of Chairman for the Department of Economics from 1987-1989. Before becoming a part of the Duke faculty, he held visiting positions as a fellow for the University of Bristol between, 1974-1975, and as a research fellow at the Harvard Business School, between 1969-1970. Professor Vernon completed his Ph.D. at the Massachusetts Institute of Technology in 1966. He earned his M.B.A. from the University of Mississippi in 1962, and his B. of M.E. from Georgia Tech in 1958. Professor Vernon’s research and teaching interests revolved around industrial organization and regulation. He has taught courses on the subjects of microeconomic theory, business and government, and industry and government problems, among others. His work also involves the areas of public policy, applied microeconomics, and the economics of innovation and regulation. His later research projects explore the vaccine/pharmaceutical industries; his work involving these industries investigates the elements of dynamic and generic competition, returns to innovation, patents, and promotion. His ideas and findings generated by his research are explained in his articles, which have appeared in numerous prestigious academic journals over the years. His writings have been published within the American Economic Review, the Journal of Law and Economics, the Journal of Health Economics, Competitive Strategies in the Pharmaceutical Industry, and the Journal of Evolutionary Economics. It has been over four decades since Professor Vernon first began publishing, and his contributions to the economic field have not yet ceased. Professor Vernon has also published a number of books that are frequently referenced by his contemporaries and students. His book, Economics of Regulation and Antitrust, with W. Kip Viscusi and Joseph E. Harrington, has been heralded as “the leading text on business and government.” The updated editions of this book include new material on theoretical and methodological advances, coverage of the Microsoft antitrust case, developments within environmental regulations, and the laissez-faire attitude toward telecommunications and electric power. Another of his books, Microeconomics and Decision Models of the firm, with T. Naylor, has been printed in both the English and Spanish languages. Other titles of his works include The Impact of Regulation on Industrial Innovation and The Search for New Vaccines: The Effects of the Vaccines for Children Program. He has published more than nine books since 1973.

Contact Info:

Office Location:	227B Social Sciences
Office Phone:	+1 919 660 1829, +1 919 660 1800
Email Address:
Web Page:	http://www.econ.duke.edu/Econ/Faculty/Users/jvernon.html

Education:

PhD	MIT	1966
M.B.A.	University of Mississippi	1962
B. of M.E	Georgia Tech	1958

Specialties:

Industrial Organization

Research Interests: Industrial Organization and Regulation

Professor Vernon’s research explores the subjects of industrial organization, public policy, applied microeconomics, and the economics of innovation and regulation. His latest research pays particular attention to the pharmaceutical industry in terms of economic regulation, and investigates promotions, patents, dynamic competition, generic competition, and returns to innovation. He has been publishing his research ideas and findings for over four decades, from his first book entitled, Microeconomics and Decision Models of the Firm with T. Naylor, to his later work, The Search for New Vaccines: The Effects of the Vaccines for Children Program with H. Grabowski, and Economics of Regulation and Antitrust with K. Viscusi and J. Harrington. The latter work has been heralded as “the leading text on business and government.” In addition to these works, he has published books covering his studies of managerial economics, linear programming, and microeconomic decision models. His most recent research papers have appeared in such academic journals as the International Journal of Technology Management, Competitive Strategies in the Pharmaceutical Industry, the Journal of Evolutionary Economics, and Pharmacoeconomics.

Keywords:

Industrial Organization and Public Policy • Economics of Innovation and Regulation • Applied Microeconomics

Curriculum Vitae

Recent Publications   (More Publications)

1. J.M. Vernon, Joe DiMasi and Henry Grabowski, R&D Costs and Reurns by Therapeutic Category (Submitted, 2004)
2. J.M. Vernon, Henry Grabowski, and Joe DiMasi, "Returns on R&D for 1990s New Drug Introductions", Pharmacoeconomics, vol. Supplement 3 (2002)
3. J.M. Vernon with H. Grabowski, "Pressures from the Demand Side: Changing Market Dynamics and Industrial Structure", in Consolidation and Competition in the Pharmaceutical Industry, edited by Hannah E. Kettler (2001), Office of Health Economics, London
4. J.M. Vernon with H. Grabowski, "The Distribution of Sales Revenues from Pharmaceutical Innovation", Pharmacoeconomics, vol. supplement 1 (2000)
5. J.M. Vernon with H. Grabowski, "Effective Patent Life in Pharmaceuticals", International Journal of Technology Management, vol. 19 no. 1/2 (2000)