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Wage, Returns to Ownership, and Fee Responses to Physician Supply

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  • Headen, Alvin E, Jr
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    Abstract

    The labor and entrepreneurial components of reported physician net income are separated in an analysis of input and output market performance. A wage equation, corrected for selectivity bias, is estimated for employee physicians and the results indicate that the performance of the labor market for primary care physicians is consistent with competitive theory. The parameters are used to predict opportunity wage rates for self-employed physicians. Differences between net income per hour and the predictions indicate that 16 percent of net income from practice is attributable to entrepreneurship. Evidence of negative selectivity into employee status is also found. Copyright 1990 by MIT Press.

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    Bibliographic Info

    Article provided by MIT Press in its journal Review of Economics & Statistics.

    Volume (Year): 72 (1990)
    Issue (Month): 1 (February)
    Pages: 30-37

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    Handle: RePEc:tpr:restat:v:72:y:1990:i:1:p:30-37

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    Web page: http://mitpress.mit.edu/journals/

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    Web: http://mitpress.mit.edu/journal-home.tcl?issn=00346535

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    Cited by:
    1. Baltagi, Badi H. & Bratberg, Espen & Holmås, Tor Helge, 2003. "A panel data study of physicians’ labor supply: The case of Norway," Working Papers in Economics 01/03, University of Bergen, Department of Economics.
    2. Baumgarten Skogstrøm, Jens Fredrik, 2012. "Entrepreneurial School Dropouts: A Model on Signalling, Education and Entrepreneurship," Memorandum 10/2012, Oslo University, Department of Economics.
    3. Peter Chinloy & Daniel Winkler, 2011. "Contracts, Labor Supply and Income Targeting," Journal of Labor Research, Springer, vol. 32(2), pages 113-135, June.
    4. Nils Braakmann, 2007. "Differences in the earnings distribution of self- and dependent emploxed German men - evidence from a quantile regression decomposition analysis," Working Paper Series in Economics 55, University of Lüneburg, Institute of Economics.
    5. Boris Groysberg & Ashish Nanda & M. Julia Prats, 2007. "Does Individual Performance Affect Entrepreneurial Mobility? Empirical Evidence from the Financial Analysis Market," NBER Working Papers 13633, National Bureau of Economic Research, Inc.
    6. Sæther, Erik Magnus, 2009. "A Discrete Choice Analysis of Norwegian Physicians’ Labor Supply and Sector Choice," HERO On line Working Paper Series 2003:19, Oslo University, Health Economics Research Programme.

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