We present a counter-example to the conventional property rights theory of the firm, which indicates that not-for-profit firms are incapable of directly competing against strictly profit-maximizing firms without the presence of barriers to entry, outside assistance, changing profit status or...

We present a dynamic property rights model of the firm with two types of non-pecuniary spending: one that is financed through capital markets which impacts future firm wealth, and one that does not. Consumption of the latter good is consistent with what has been found in previous models. Our...

Nonprofit firms that produce multiple outputs may lower service intensity for one patient group in response to lower reimbursements for another group. This is termed 'cost-adjusting' behaviour. Cost-adjusting implies a serious welfare transfer. The results of this analysis suggest that the...

Researchers often use the discrepancy between self-reported and biochemically assessed active smoking status to argue that self-reported smoking status is not reliable, ignoring the limitations of biochemically assessed measures and treating it as the gold standard in their comparisons. Here, we...

The finding that a self-reported survey failed to identify over one-third of individuals at risk for NMPO use is concerning, as is the finding that approximately 17 % of those who admitted to NMPO use may have misstated their prescription-opioid source. The findings presented here are critical...

One component of hospital production that has received little attention is that of the generalist nurse in the pharmacy. After developing a theoretical model characterising pharmacy nursing demand, we identify and explore two major questions of interest. The first pertains to which factors...

In 2009 firms faced both economic uncertainty and influenza outbreaks. Both crises posed large costs for firms; however, the manner in which they were perceived by management to affect the organization potentially differed. Using generalized maximum entropy (GME) the authors analyzed a business...

This paper studies how the change from retrospective cost-based reimbursement to a prospective payment system shifted hospital investment strategies from quality-enhancing technologies to cost-saving technologies. A consequence of this change was the opportunity for for-profit hospitals to...

Do events in the natural gas market cause repercussions in the crude oil market? This paper studies linkages between the two markets using high-frequency, intraday oil and gas futures prices. By analyzing the effect of weekly oil and gas inventory announcements on price volatility, we show a...