IDEAS home Printed from https://ideas.repec.org/a/cpn/umkcjf/v8y2019i4p91-111.html

Optimal Control Theoretic Approach To Investment In Doctors

Author

Listed:
  • Mustafa Akan

    (Haliç University, Turkey)

Abstract

Health care is ever more important with aging population. Assuming the number of doctors per patient is one of the determinants of patient satisfaction, optimal investment in practitioner doctors, specialist doctors and foreign doctors are analyzed given the total number of doctors (domestic) are exogenously determined. The high cost of investment in specialist doctors are weighted against the high salaries of imported foreign doctors. An optimal control theory is employed to determine the optimal investment plans for the two alternative sources of specialist doctors to maximize the net (of costs) patient satisfaction over a fixed time horizon. It is found that a nation with insufficient number of specialist doctors at the beginning of the time horizon should increase the investment in local specialist doctors gradually while employing foreign doctors as to equate their salaries to the marginal satisfaction of the patients. An equilibrium point exists, and it is stable.

Suggested Citation

  • Mustafa Akan, 2019. "Optimal Control Theoretic Approach To Investment In Doctors," Copernican Journal of Finance & Accounting, Uniwersytet Mikolaja Kopernika, vol. 8(4), pages 91-111.
    • Handle: RePEc:cpn:umkcjf:v:8:y:2019:i:4:p:91-111
    as

    Download full text from publisher

    File URL: https://apcz.umk.pl/czasopisma/index.php/CJFA/article/view/CJFA.2019.019/25771
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Chojnicki, Xavier & Moullan, Yasser, 2018. "Is there a ‘pig cycle’ in the labour supply of doctors? How training and immigration policies respond to physician shortages," Social Science & Medicine, Elsevier, vol. 200(C), pages 227-237.
    2. Rowthorn, Robert & Toxvaerd, Flavio, 2012. "The Optimal Control of Infectious Diseases via Prevention and Treatment," CEPR Discussion Papers 8925, Centre for Economic Policy Research.
    3. Oluwaseun Sharomi & Tufail Malik, 2017. "Optimal control in epidemiology," Annals of Operations Research, Springer, vol. 251(1), pages 55-71, April.
    4. Scheffler, Richard M. & Arnold, Daniel R., 2019. "Projecting shortages and surpluses of doctors and nurses in the OECD: what looms ahead," Health Economics, Policy and Law, Cambridge University Press, vol. 14(2), pages 274-290, April.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Toxvaerd, Flavio, 2024. "Contacts, altruism and competing externalities," European Economic Review, Elsevier, vol. 167(C).
    2. Thomas Allen & Dorte Gyrd-Hansen & Søren Rud Kristensen & Anne Sophie Oxholm & Line Bjørnskov Pedersen & Mario Pezzino, 2022. "Physicians under Pressure: Evidence from Antibiotics Prescribing in England," Medical Decision Making, , vol. 42(3), pages 303-312, April.
    3. Sander Heinsalu, 2020. "Infection arbitrage," Papers 2004.08701, arXiv.org, revised Apr 2020.
    4. Mats Nylén‐Eriksen & Ellen Karine Grov & Ann Kristin Bjørnnes, 2020. "Nurses' job involvement and association with continuing current position—A descriptive comparative study," Journal of Clinical Nursing, John Wiley & Sons, vol. 29(13-14), pages 2699-2709, July.
    5. Natalia Cecon & Theresia Krieger & Sandra Salm & Holger Pfaff & Antje Dresen, 2022. "Salutogenesis at Work as a Facilitator for Implementation? An Explorative Study on the Relationship of Job Demands, Job Resources and the Work-Related Sense of Coherence within a Complex Healthcare Programme," IJERPH, MDPI, vol. 19(3), pages 1-20, February.
    6. Glenn Ellison, 2020. "Implications of Heterogeneous SIR Models for Analyses of COVID-19," NBER Working Papers 27373, National Bureau of Economic Research, Inc.
    7. Chryssi Giannitsarou & Stephen Kissler & Flavio Toxvaerd, 2021. "Waning Immunity and the Second Wave: Some Projections for SARS-CoV-2," American Economic Review: Insights, American Economic Association, vol. 3(3), pages 321-338, September.
    8. Pedersen, Line Bjørnskov & Allen, Thomas & Waldorff, Frans Boch & Andersen, Merethe Kirstine Kousgaard, 2020. "Does accreditation affect the job satisfaction of general practitioners? A combined panel data survey and cluster randomised field experiment," Health Policy, Elsevier, vol. 124(8), pages 849-855.
    9. Sharbayta, Sileshi Sintayehu & Buonomo, Bruno & d'Onofrio, Alberto & Abdi, Tadesse, 2022. "‘Period doubling’ induced by optimal control in a behavioral SIR epidemic model," Chaos, Solitons & Fractals, Elsevier, vol. 161(C).
    10. Glover, Andrew & Heathcote, Jonathan & Krueger, Dirk, 2022. "Optimal age-Based vaccination and economic mitigation policies for the second phase of the covid-19 pandemic," Journal of Economic Dynamics and Control, Elsevier, vol. 140(C).
    11. Glenn Ellison, 2024. "Implications of heterogeneous SIR models for analyses of COVID-19," Review of Economic Design, Springer;Society for Economic Design, vol. 28(4), pages 651-687, December.
    12. Elena Gubar & Vladislav Taynitskiy & Denis Fedyanin & Ilya Petrov, 2023. "Quarantine and Vaccination in Hierarchical Epidemic Model," Mathematics, MDPI, vol. 11(6), pages 1-17, March.
    13. Toxvaerd, Flavio & Rowthorn, Robert, 2022. "On the management of population immunity," Journal of Economic Theory, Elsevier, vol. 204(C).
    14. Federico Sturzenegger, 2020. "Should we Hibernate in a Lockdown?," Economics Bulletin, AccessEcon, vol. 40(3), pages 2023-2033.
    15. Tatiana Kiseleva & Florian Wagener, 2015. "Bifurcations of Optimal Vector Fields," Mathematics of Operations Research, INFORMS, vol. 40(1), pages 24-55, February.
    16. Juliano Marçal Lopes & Coralys Colon Morales & Michelle Alvarado & Vidal Augusto Z. C. Melo & Leonardo Batista Paiva & Eduardo Mario Dias & Panos M. Pardalos, 2022. "Optimization methods for large-scale vaccine supply chains: a rapid review," Annals of Operations Research, Springer, vol. 316(1), pages 699-721, September.
    17. Nemati Fard, Lorenzo Amir & Bisin, Alberto & Starnini, Michele & Tizzoni, Michele, 2025. "Modeling adaptive forward-looking behavior in epidemics on networks," Journal of Economic Behavior & Organization, Elsevier, vol. 232(C).
    18. Mira Baude & Alf Kimms, 2024. "Modelling pandemic behavior with a network-SIRD approach," Central European Journal of Operations Research, Springer;Slovak Society for Operations Research;Hungarian Operational Research Society;Czech Society for Operations Research;Österr. Gesellschaft für Operations Research (ÖGOR);Slovenian Society Informatika - Section for Operational Research;Croatian Operational Research Society, vol. 32(2), pages 521-541, June.
    19. Yasushi Iwamoto, 2021. "Welfare economics of managing an epidemic: an exposition," The Japanese Economic Review, Springer, vol. 72(4), pages 537-579, October.
    20. Romain Biard & Marc Deschamps & Mostapha Diss & Alexis Roussel, 2024. "Assessing Available Care Time and Nursing Shortage in a Hospital," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 26(02), pages 1-26, June.

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cpn:umkcjf:v:8:y:2019:i:4:p:91-111. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Miroslawa Buczynska (email available below). General contact details of provider: http://www.wydawnictwoumk.pl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.