physician income in six different specialties. The students' income estimation errors varied systematically over time and cross … absolute value of the estimation errors was 26 percent of actual income. Students were 35 percent more accurate when estimating … market income in their fourth relative to their first year, which indicates medical students learn a considerable amount …

form these expectations. We use a unique data set that contains the explicit income expectations of medical students over a … 25-year time period to examine how students form income expectations. We examine whether students condition their … expectations on their own ability, contemporaneous physician income, and the ex post income of physicians in their medical school …

are investigated. Physicians report having made substantial changes to their practice in response to the general … environment and to liability pressures. Regression analysis finds that liability pressure increases reports of income and practice … reductions, but direct effects on actual income and productivity are less clear. Liability pressures may lead to a specialization …

provides non-divisible services to consumers, with physicians our prime example. Examining local income inequality across U …Top income inequality in the United States has increased considerably within occupations. This phenomenon has led to a … search for a common explanation. We instead develop a theory where increases in income inequality originating within a few …

A longstanding literature highlights the tension between the altruism of physicians and their desire for profit. We … reduce utilization in response to higher prices, but profit-maximization does the opposite. Rational physicians behave more …

Economists have long been aware of utility externalities such as a tendency to compare own income with others'. If … welfare losses from income comparisons are significant, any governmental interventions that alter such attitudes may have … comparing income with others may diminish welfare even when income levels increase makes UK respondents compare incomes more …