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Maybe further HMO penetration required. Government still a dominant payer, and reimburses generously. Maybe managed care doesn’t work. Outcomes for patients covered by HMOs similar & sometimes better than those for fee-for-service patients.

31 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 606 | Lượt tải: 0

MCOs hope to modify physician behavior in order to control costs. 88% of all practicing docs in 2001 had at least one managed care contract. In 2001, 49¢ of every $1 of physician revenue came from an MCO.

42 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 789 | Lượt tải: 0

What is the profit-maximizing price and quantity for a monopolist? Recall that all firms will maximize profits where MR=MC We have already seen that the marginal cost curve for a firm depends on its production function and input prices What does the firm’s MR curve look like?

45 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 604 | Lượt tải: 0

An individual’s subjective probability of illness (P1) will depend on her health stock, age, lifestyle, etc. Then without insurance, the individual’s expected utility for next year is: E(U) = P0U($40,000) + P1U($20,000) = P0•90 + P1•70

41 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 776 | Lượt tải: 0

Potential for substitutability If price of 1 input increases, can minimize impact on total costs by substituting away. Elasticity of substitution : r = [D(I1/I2)/I1/I2] : [D(MP2/MP1)/MP2/MP1] % change in input ratio, divided by % change in ratio of inputs’ MPs.

49 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 745 | Lượt tải: 0

The demand curve illustrates the effect of changes in the price of the good on quantity demanded holding all other factors (income, prices of other goods) constant Changes in factors other than the price of the good itself lead to shifts in the demand curve

39 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 729 | Lượt tải: 0

Health as a consumer durable good: Utility = U (X, Health) X represents “other goods and services” H is a stock -- every action will affect health On its own or combined with other goods and services, the stock of H generates a flow of services that yield satisfaction=utility

44 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 780 | Lượt tải: 0

Individuals make decisions everyday that reflect how they value health and mortality risks. Driving a car Smoking a cigarette Eating a medium-rare hamburger Note: These slides draw from material in Viscusi WP and Aldy JE, “The Value of a Statistical Life: A Critical Review of Market Estimates Throughout the World,” The Journal of Risk and Uncer...

24 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 641 | Lượt tải: 0

Classifying markets number of firms freedom of entry to industry nature of product nature of demand curve The four market structures perfect competition monopoly monopolistic competition oligopoly Structure  conduct  performance

76 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 937 | Lượt tải: 0

Long-run average costs assumptions behind the curve factor prices are give state of technology and factor quality are given firms choose least-cost combination of factors shape of the LRAC curve a typical LRAC curve

26 trang | Chia sẻ: huyhoang44 | Ngày: 21/03/2020 | Lượt xem: 838 | Lượt tải: 0