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Physician choice of medical specialty: do economic incentives matter?

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  • James Thornton

Abstract

In this paper, a probabilistic discrete choice approach is used to examine the influence of economic and non-economic factors on the choice of medical specialty by new physicians. A two level nested logit model is estimated that relaxes the independence from irrelevant alternatives assumption, and allows for a potentially more realistic pattern of substitution across specialty choices. The results from this specification are compared to those obtained from joint and conditional logit models. The findings, which are relatively robust across models, indicate that economic incentives play an important role in the specialty choice process, in particular, expected hours worked and medical school indebtedness. Physician tastes for specialties also appear to have an important influence.

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Bibliographic Info

Article provided by Taylor & Francis Journals in its journal Applied Economics.

Volume (Year): 32 (2000)
Issue (Month): 11 ()
Pages: 1419-1428

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Handle: RePEc:taf:applec:v:32:y:2000:i:11:p:1419-1428

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Cited by:
  1. Pascal Courty & Gerald R. Marschke, 2008. "On the Sorting of Physicians across Medical Occupations," NBER Working Papers 14502, National Bureau of Economic Research, Inc.
  2. Sivey, Peter & Scott, Anthony & Witt, Julia & Joyce, Catherine & Humphreys, John, 2012. "Junior doctors’ preferences for specialty choice," Journal of Health Economics, Elsevier, vol. 31(6), pages 813-823.
  3. Sabine Jokisch & Laurence J. Kotlikoff, 2007. "Simulating the Dynamic Macroeconomic and Microeconomic Effects of the FairTax1," Boston University - Department of Economics - Working Papers Series WP2007-026, Boston University - Department of Economics.
  4. Judith Semeijn & Rolf van der Velden & Hans Heijke & Cees van der Vleuten & Henny Boshuizen, 2005. "The Role of Education in Selection and Allocation in the Labour Market: An Empirical Study in the Medical Field," Education Economics, Taylor & Francis Journals, vol. 13(4), pages 449-477.
  5. John Whitehead, 2006. "A comparison of contingent valuation method and random utility model estimates of the value of avoiding reductions in king mackerel bag limits," Applied Economics, Taylor & Francis Journals, vol. 38(15), pages 1725-1735.
  6. Greir Godager & Tor Iversen & Ching-to Albert Ma, 2007. "Service Motives And Profit Incentives Among Physicians," Boston University - Department of Economics - Working Papers Series WP2007-042, Boston University - Department of Economics, revised Sep 2007.

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