We investigate the timing and the valuation of strategic investment aimed at enhancing entry opportunities in related market segments. As demand is uncertain, entry options should be exercised at the optimal time, trading off the market share gain against the option to wait until more...

This paper examines the implications for health policy of recent demographic trends. It examines the remarkable succession of a 'baby boom' generation followed by a 'baby bust' generation in most Western countries. After reviewing the explanatory literature, and rejecting the likelihood of any...

This Paper analyses the effects of macroeconomic conditions throughout life on the individual mortality rate. We estimate flexible duration models where the individual’s mortality rate depends on current conditions, conditions earlier in life (notably during childhood), calendar time, age,...

How did Europe overtake China? We construct a simple Malthusian model with two sectors, and use it to explain how European per capita incomes and urbanization rates surged ahead of Chinese ones. Productivity growth can only explain a small fraction of rising living standards. Population dynamics...

We argue that health care quality has an important impact on economic inequality and on saving behaviour. We exploit district-wide variability in health care quality provided by the Italian universal public health system to identify the effect of quality on income inequality, health inequality...

The determinants of the dramatically rising expenditures on health care in general, and on hospital care in particular, have been of prior concern to policy and to research. Using a rich panel data set this paper contributes to this literature by investigating factors determining the demand for...

Extending choice in health care is currently popular amongst English, and other, politicians. Those promoting choice make an appeal to a simple economic argument. Competitive pressure helps make private firms more efficient and consumer choice acts as a major driver for efficiency. Giving...

In this paper, I examine the role of household income in determining who bribes and how much they bribe in health care in Peru and Uganda. I find that rich patients are more likely than other patients to bribe in public health care: doubling household consumption increases the bribery...