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A hedonic model featuring quality-quantity tradeoffs reveals a number of surprising market behaviors that can result from price regulations that are imposed on competitive markets for products that have adjustable non-price attributes. Quality need not clear a competitive market in the same way...
Persistent link: https://www.econbiz.de/10012989732
A version of the Becker-Lancaster characteristics model featuring quality-quantity trade offs reveals a number of surprising market behaviors that can result from price regulations that are imposed on competitive markets for products that have adjustable non-price attributes. Quality need not...
Persistent link: https://www.econbiz.de/10012992221
Health care systems are under reform in many countries. This typically involves a shift towards more competition. But … still, markets are highly regulated. This study analyzes competition and regulatory measures in four important fields using … the modern tools of microeconomic theory and microeconometrics. The book demonstrates how price regulation interacts with …
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. This holds if the public hospital is similar to the private hospital or less efficient and competition is low. The main … hospital compared to the first-best. However, if the public hospital is sufficiently more efficient and competition is fierce … oligopoly ; price regulation ; quality ; hospital competition …
Persistent link: https://www.econbiz.de/10008667618
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We analyse the effect of competition on quality in hospital markets with regulated prices, considering both the effect … of (i) introducing competition (monopoly versus competition) and (ii) increasing competition through lower transportation … structure, we show that the relationship between competition and quality is generally ambiguous. In contrast to the received …
Persistent link: https://www.econbiz.de/10013152862
classical market theory) is no longer guaranteed; hence, we investigate the nature of non-price competition and how markets … might evolve in its presence. We develop a quality competition model based on matching theory. Equilibria of the quality … predictions of the model. In particular, price controls induce non-price competition between agents both in theory and in the …
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