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Health Goods, Market Failure and Justice

In: Health Economics

Author

Listed:
  • Peter Zweifel

    (University of Zurich)

  • Friedrich Breyer

    (University of Konstanz)

  • Mathias Kifmann

    (University of Augsburg)

Abstract

The allocation of health goods frequently deviates from the principles of a market economy. This holds true particularly of medical services, even in Western industrialized countries, which claim to be market economies. In general, neither the decision to offer a medical service (e.g., an appendectomy) nor the decision to demand that service are made by sovereign individuals or firms who bear the full financial consequences of their choices.Moreover, the pricemechanismis not permitted to coordinate choices in health care by signaling varying degrees of scarcity. The decisionmaking process is thus completely different from that characterizing the production and purchase of refrigerators, for example.

Suggested Citation

  • Peter Zweifel & Friedrich Breyer & Mathias Kifmann, 2009. "Health Goods, Market Failure and Justice," Springer Books, in: Health Economics, chapter 5, pages 155-201, Springer.
    • Handle: RePEc:spr:sprchp:978-3-540-68540-1_5
    DOI: 10.1007/978-3-540-68540-1_5
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    Cited by:

    1. Janssens, Wendy & Kramer, Berber, 2016. "The social dilemma of microinsurance: Free-riding in a framed field experiment," Journal of Economic Behavior & Organization, Elsevier, vol. 131(PB), pages 47-61.
    2. Rosella Levaggi & Francesco Menoncin, 2014. "Health care expenditure decisions in the presence of devolution and equalisation grants," International Journal of Health Economics and Management, Springer, vol. 14(4), pages 355-368, December.

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