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Hospital Insurance and Moral Hazard

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  • Hyman Joseph

Abstract

Cross-section data are used to determine the effect of third-party payments on the length of stay in a hospital for 22 separate illnesses or conditions, thereby providing a test of the effect of third-party payments on resource allocation to hospitals. Also, estimates are made of price elasticities of demand for the separate illnesses or conditions. This study, by discovering patterns of behavior among medical categories that have been obscured in aggregate demand studies, has important implications regarding the existence and extent of "moral hazard," the effectiveness of coinsurance, and the effect of extended-care facilities on resource allocation.

Suggested Citation

  • Hyman Joseph, 1972. "Hospital Insurance and Moral Hazard," Journal of Human Resources, University of Wisconsin Press, vol. 7(2), pages 152-161.
    • Handle: RePEc:uwp:jhriss:v:7:y:1972:i:2:p:152-161
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