DATE CHANGE: Faculty Research Lecture with Dr Niro Sivanathan
Join Dr Niro Sivanathan, Associate Professor of Organisational Behaviour, on 2 December for the next lecture in the Faculty Research Lecture series. Dr Sivanathan will speaking on "The perils of prescription drug advertisements".
** Please note: due to circumstances beyond our control, the date and location of this lecture have been changed. Any previous RSVPs will need to be re-submitted - apologies for any inconvenience.**
Date: Friday 2 December
Time: 13:00 - 14:00
Location: Wolfson Lecture Theatre (Plowden, first floor)
The perils of prescription drug advertisements
Advertising of pharmaceutical drugs is a $4.5 billion-a-year industry. These advertisements have resulted in an increased demand, by patients, for these drugs. Hemant Kakkar (PhD student at LBS) and I provide the first evidenced based psychological account of a more serious concern that warrants the re-examination of the merits of pharmaceutical drug advertisements. Across four experiments and a sample of 2393 US participants, we find reliable evidence for the argument dilution effect (the tendency for weak or irrelevant information to dilute the key information within an argument). Specifically, when commercials list all side-effects, both serious and minor, as required by the FDA, it dilutes consumers’ judgements of the overall severity of side effects, compared to when only the serious side-effects are listed. Furthermore, there is an increased willingness to pay for those drugs. In regulating pharmaceutical advertisements, the FDA appear to have paradoxically increased the marketability of these drugs.