We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...

The nature and normative properties of competition in health care markets have long been the subject of debate. In this paper we consider what the optimal benchmark is in the presence of moral hazard effects on consumption due to health insurance. Moral hazard is widely recognized as one of the...

We study the effect of physician incentives in an HMO network. Physician incentives are controversial because they may induce doctors to make treatment decisions that differ from those they would chose in the absence of incentives. We set out a theoretical framework for assessing the degree to...

We examine the evolving structure of the U.S. hospital industry since 1970, focusing on how ownership form influences entry and exit behavior. We develop theoretical predictions based on the model of Lakdawalla and Philipson, in which for-profit and not-for-profit hospitals differ regarding...

There has been considerable consolidation in the hospital industry in recent years. Over 900 deals occurred from 1994-2000, and many local markets, even in large urban areas, have been reduced to monopolies, duopolies, or triopolies. This surge in consolidation has led to concern about...

This paper studies how an independent upstream capital good sector in a technology based industry can act as a mechanism for the transmission of growth across countries. Technologies, once developed, can be ‘transferred’ to other countries at low incremental cost. If there are upstream firms...

This paper analyses the development of software in India and Ireland. The development patterns of the software industry in Ireland and India clearly show both the advantages and disadvantages of being a follower. The most obvious advantage is the ability to sustain growth without a broad based...

This paper provides an explanation of the role of intellectual property rights (IPRs) in information-intensive vertical supply relationships. Specifically, we explore the connection between stronger property rights and the enhanced viability of specialized (versus vertically integrated) input...

Although market transactions for technologies, ideas, knowledge or information are limited by several well known imperfections, there is increasing evidence that they have become more common than in the past. In this paper we argue that these markets change the traditional mindset in which the...

We contribute a novel approach to the existing literature on the effects of restructuring on R&D investment by focussing on a single industry, chemicals. The chemical industry is very research intensive and has experienced thorough restructuring since the early 1980s. By focussing on a single...