Economic rents derived from hospital privileges in the market for podiatric services

Research output: Contribution to journalArticle

Abstract

This study examines the relative impacts of human capital and market conditions on the economic rents associated with hospital privileges in the market for footcare. An empirical model of hospital privileges for podiatrists is formulated based on the Pauly-Redisch model of hospital behavior. The privelege model is then incorporated into a model of podiatrists' earnings via a selection adjustment as proposed by Heckman and Lee. The results indicate the persistance of economic rents even after controlling for unobserved 'quality' factors.

Original languageEnglish (US)
Pages (from-to)319-337
Number of pages19
JournalJournal of Health Economics
Volume6
Issue number4
DOIs
StatePublished - 1987

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Economics
Social Adjustment
Economic rent
Factors
Market conditions
Heckman
Human capital
Empirical model

ASJC Scopus subject areas

  • Economics and Econometrics

Cite this

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title = "Economic rents derived from hospital privileges in the market for podiatric services",
abstract = "This study examines the relative impacts of human capital and market conditions on the economic rents associated with hospital privileges in the market for footcare. An empirical model of hospital privileges for podiatrists is formulated based on the Pauly-Redisch model of hospital behavior. The privelege model is then incorporated into a model of podiatrists' earnings via a selection adjustment as proposed by Heckman and Lee. The results indicate the persistance of economic rents even after controlling for unobserved 'quality' factors.",
author = "Frank, {Richard G.} and Jonathan Weiner and Steinwachs, {Donald M.} and Salkever, {David S}",
year = "1987",
doi = "10.1016/0167-6296(87)90019-1",
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pages = "319--337",
journal = "Journal of Health Economics",
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AB - This study examines the relative impacts of human capital and market conditions on the economic rents associated with hospital privileges in the market for footcare. An empirical model of hospital privileges for podiatrists is formulated based on the Pauly-Redisch model of hospital behavior. The privelege model is then incorporated into a model of podiatrists' earnings via a selection adjustment as proposed by Heckman and Lee. The results indicate the persistance of economic rents even after controlling for unobserved 'quality' factors.

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