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The Interaction between Forms of Insurance Contract and Types of Technical Change in Medical Care

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  • James R. Baumgardner
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    Abstract

    A simple three-parameter description of medical technology is introduced to investigate the relationships between technical change, welfare, and type of insurance contract. The value of a particular change in technology depends on the existing form of contract. The marginal equilibrium expected utility to consumers of different types of technical change hinges on the manner in which the insurance arrangement is designed to mitigate moral hazard. These results open the way for a positive model of the effects of insurance arrangements on the types of technology that are adopted and of the effects of technical changes on the prevalent forms of insurance contract.

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    Bibliographic Info

    Article provided by The RAND Corporation in its journal RAND Journal of Economics.

    Volume (Year): 22 (1991)
    Issue (Month): 1 (Spring)
    Pages: 36-53

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    Handle: RePEc:rje:randje:v:22:y:1991:i:spring:p:36-53

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    Cited by:
    1. Kevin Frick, 1999. "Cross product subsidization in the health insurance market with managed care: A model and issues," Atlantic Economic Journal, International Atlantic Economic Society, vol. 27(2), pages 121-134, June.
    2. Philippe Chone & Ching-to Albert Ma, 2006. "Asymmetric Information from Physician Agency: Optimal Payment and Healthcare Quantity," Boston University - Department of Economics - Working Papers Series WP2006-006, Boston University - Department of Economics.
    3. Bokhari, Farasat A.S., 2009. "Managed care competition and the adoption of hospital technology: The case of cardiac catheterization," International Journal of Industrial Organization, Elsevier, vol. 27(2), pages 223-237, March.
    4. Francisco Gomes & Laurence Kotlikoff & Luis Viceira, 2006. "The Excess Burden of Government Indecision," Working Papers wp123, University of Michigan, Michigan Retirement Research Center.
    5. Finocchiaro Castro, Massimo & Guccio, Calogero & Pignataro, Giacomo & Rizzo, Ilde, 2014. "The effects of reimbursement mechanisms on medical technology diffusion in the hospital sector in the Italian NHS," Health Policy, Elsevier, vol. 115(2), pages 215-229.
    6. Robert F. Graboyes, 2000. "Medicine worse than the malady : cure rates, population shifts, and health insurance," Working Paper 00-06, Federal Reserve Bank of Richmond.
    7. Robert F. Graboyes, 2000. "Getting better, feeling worse : cure rates, health insurance, and welfare," Working Paper 00-05, Federal Reserve Bank of Richmond.
    8. Mas, Núria & Seinfeld, Janice, 2008. "Is managed care restraining the adoption of technology by hospitals?," Journal of Health Economics, Elsevier, vol. 27(4), pages 1026-1045, July.
    9. Philippe Chone & Ching-to Albert Ma, 2007. "Optimal Health Care Contracts under Physician Agency," Boston University - Department of Economics - Working Papers Series WP2007-041, Boston University - Department of Economics, revised Sep 2007.
    10. Thomas G. McGuire & Jacob Glazer, 2000. "Optimal Risk Adjustment in Markets with Adverse Selection: An Application to Managed Care," American Economic Review, American Economic Association, vol. 90(4), pages 1055-1071, September.
    11. Kristopher J. Hult & Tomas J. Philipson, 2012. "Public Liabilities and Health Care Policy," NBER Working Papers 18571, National Bureau of Economic Research, Inc.
    12. Farasat A.S. Bokhari, 2001. "Managed Care and the Adoption of Hospital Technology: The Case of Cardiac Catheterization," HEW 0110001, EconWPA.

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