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A Neglected Ricardian Aspect Of Labor Supply

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  • Adams, James D.

Abstract

In this paper we develop and estimate a model of the supply of personal services, which is applied to physicians. Typically the services are embodied in the consumers who demand them, in the sense that resale is costly. At least this is true of medical care, which according to a recent analysis (Grossman, 1972) is combined with personal contributions to health such as exercise time to create" additions to the patient's health. Our view of the supply of medical care emphasizes the choice between treating a smaller number of patients (more generally, dealing with a smaller number of clients) more intensively and a larger number less intensively, a choice which we term the Extensive-Intensive Allocative Question,

Suggested Citation

  • Adams, James D., 1979. "A Neglected Ricardian Aspect Of Labor Supply," ISU General Staff Papers 197901010800001063, Iowa State University, Department of Economics.
    • Handle: RePEc:isu:genstf:197901010800001063
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    References listed on IDEAS

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    1. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1.
    2. Victor R. Fuchs, 1972. "Essays in the Economics of Health and Medical Care," NBER Books, National Bureau of Economic Research, Inc, number fuch72-1.
    3. Jacob A. Mincer, 1974. "Schooling and Earnings," NBER Chapters, in: Schooling, Experience, and Earnings, pages 41-63, National Bureau of Economic Research, Inc.
    4. Michael Grossman, 1972. "The Demand for Health: A Theoretical and Empirical Investigation," NBER Books, National Bureau of Economic Research, Inc, number gros72-1.
    5. H. S. Houthakker, 1952. "Compensated Changes in Quantities and Qualities Consumed," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 19(3), pages 155-164.
    6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb..
    7. William M. Landes, 1974. "The Bail System: An Economic Approach," NBER Chapters, in: Essays in the Economics of Crime and Punishment, pages 135-163, National Bureau of Economic Research, Inc.
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