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Hospital Capital Investment: The Roles of Demand, Profits, and Physicians

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  • Mark V. Pauly

Abstract

After considering existing studies of hospital capital investment, this paper analyzes hospital investment with a model based on the assumption that hospitals are run to maximize the incomes of staff physicians. Optimal capital stock is shown to be related to physician income and hospital output. Analysis of a state-aggregate cross-section indicates that investment is a lagged response to output and physician income changes, while profits are not consistently an important determinant.

Suggested Citation

  • Mark V. Pauly, 1974. "Hospital Capital Investment: The Roles of Demand, Profits, and Physicians," Journal of Human Resources, University of Wisconsin Press, vol. 9(1), pages 7-20.
    • Handle: RePEc:uwp:jhriss:v:9:y:1974:i:1:p:7-20
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    Cited by:

    1. Raduna, Daniela Viviana & Roman, Mihai Daniel, 2011. "Risk aversion influence on insurance market," MPRA Paper 37725, University Library of Munich, Germany, revised 01 Feb 2012.
    2. Christian M. Ernst, 2003. "The interaction between cost‐management and learning for major surgical procedures – lessons from asymmetric information," Health Economics, John Wiley & Sons, Ltd., vol. 12(3), pages 199-215, March.
    3. Ernst, Chris & Rouse, Paul, 2016. "Complexity, Tertiariness and Healthcare: Unresolved Issues of Reimbursement and Incentives," Die Unternehmung - Swiss Journal of Business Research and Practice, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 70(3), pages 227-247.

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