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Economic Rents Derived from Hospital Privileges in the Market for Podiatric Services

Author

Listed:
  • Richard G. Frank
  • Jonathan P. Weiner
  • Donald M. Steinwachs
  • David S. Salkever

Abstract

This study examines the relative impacts of human capital and market conditions on the economic rents associated with hospital privileges in the market for footcare. An empirical model of hospital privileges for podiatrists is formulated based on the Pauly-Redisch model of hospital behavior. The privilege model is then incorporated into a model of podiatrists' earnings via a selection adjustment as proposed by Heckman and Lee. The results indicate the persistence of economic rents even after controlling for unobserved "quality" factors.

Suggested Citation

  • Richard G. Frank & Jonathan P. Weiner & Donald M. Steinwachs & David S. Salkever, 1987. "Economic Rents Derived from Hospital Privileges in the Market for Podiatric Services," NBER Working Papers 2207, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:2207
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    1. Headen Jr., Alvin E., 1988. "Estimating the Labor and Ownership Components of Physician Net Income Controlling for Practice Arrangement Choice," Department of Economics and Business - Archive 259437, North Carolina State University, Department of Economics.

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