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Specialty Selection and Lifetime Returns to Specialization Within Medicine

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  • Jayanta Bhattacharya
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    Abstract

    In 1995, the average American surgeon earned over $269,000 while family practice doctors earned $131,200. Using data from the Survey of Young Physicians and the American Medical Association’s Socio-Economic Monitoring Survey, I find that only half of income differences between generalists and specialists can be explained by hours of work, residency training length, and observed and unobserved ability differences—the three competitive market explanations for differences in doctors’ incomes across specialties. The most likely explanation for the remaining income differences is differential entry barriers across specialties.

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    File URL: http://jhr.uwpress.org/cgi/reprint/XL/1/115
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    Bibliographic Info

    Article provided by University of Wisconsin Press in its journal Journal of Human Resources.

    Volume (Year): 40 (2005)
    Issue (Month): 1 ()
    Pages:

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    Handle: RePEc:uwp:jhriss:v:40:y:2005:i:1:p115-143

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    Web page: http://jhr.uwpress.org/

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    Cited by:
    1. Mroz, T.; & Picone, G.;, 2011. "A Multiple State Duration Model with Endogenous Treatment," Health, Econometrics and Data Group (HEDG) Working Papers 11/19, HEDG, c/o Department of Economics, University of York.
    2. Gabriel Picone & Arseniy Yashkin & Thomas Mroz & Frank Sloan, 2013. "Screening for a Chronic Disease: A Multiple Stage Duration Model with Partial Observability," Working Papers 0213, University of South Florida, Department of Economics.
    3. 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.

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