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

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  • Headen, Alvin E, Jr

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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  • Headen, Alvin E, Jr, 1990. "Wage, Returns to Ownership, and Fee Responses to Physician Supply," The Review of Economics and Statistics, MIT Press, vol. 72(1), pages 30-37, February.
    • Handle: RePEc:tpr:restat:v:72:y:1990:i:1:p:30-37
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    Cited by:

    1. Sæther, Erik Magnus, 2009. "A Discrete Choice Analysis of Norwegian Physicians’ Labor Supply and Sector Choice," HERO Online Working Paper Series 2003:19, University of Oslo, Health Economics Research Programme.
    2. Barton H. Hamilton, 2000. "Does Entrepreneurship Pay? An Empirical Analysis of the Returns to Self-Employment," Journal of Political Economy, University of Chicago Press, vol. 108(3), pages 604-631, June.
    3. Terence Chai Cheng & Anthony Scott & Sung-Hee Jeon & Guyonne Kalb & John Humphreys & Catherine Joyce, 2010. "What Factors Influence the Earnings of GPs and Medical Specialists in Australia? Evidence from the MABEL Survey," Melbourne Institute Working Paper Series wp2010n12, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    4. Terence Chai Cheng & Anthony Scott & Sung‐Hee Jeon & Guyonne Kalb & John Humphreys & Catherine Joyce, 2012. "What Factors Influence The Earnings Of General Practitioners And Medical Specialists? Evidence From The Medicine In Australia: Balancing Employment And Life Survey," Health Economics, John Wiley & Sons, Ltd., vol. 21(11), pages 1300-1317, November.
    5. Peter Chinloy & Daniel Winkler, 2011. "Contracts, Labor Supply and Income Targeting," Journal of Labor Research, Springer, vol. 32(2), pages 113-135, June.
    6. Badi H. Baltagi & Espen Bratberg & Tor Helge Holmås, 2005. "A panel data study of physicians' labor supply: the case of Norway," Health Economics, John Wiley & Sons, Ltd., vol. 14(10), pages 1035-1045, October.
    7. 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.
    8. Baumgarten Skogstrøm, Jens Fredrik, 2012. "Entrepreneurial School Dropouts: A Model on Signalling, Education and Entrepreneurship," Memorandum 10/2012, Oslo University, Department of Economics.
    9. 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.

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