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| Author: | Gal-Or, E. |
| Title: | Excessive investment in hospital capacities |
| Journal: | Journal of Economics & Management Strategy
1994 : SPRING, VOL. 3:1, p. 53-70 |
| Index terms: | MEDICAL CARE INVESTMENT CAPACITY |
| Language: | eng |
| Abstract: | In the present study the author identifies an inherent characteristic of health care markets that may lead to excessive investment by hospitals even when compensated according to a prospective reimbursement rule. It is demonstrated that the stochastic nature of the demand for medical services combined with the lumpiness of investment decisions may give rise to excessive investment when multiple hospitals select independently their levels of capacities. |
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