NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

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

Richard G. Frank, Jonathan P. Weiner, Donald M. Steinwachs, David S. Salkever

NBER Working Paper No. 2207 (Also Reprint No. r1015)
Issued in April 1987
NBER Program(s):   HE

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.

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Document Object Identifier (DOI): 10.3386/w2207

Published: Frank, Richard C., Jonathan P. Weiner, Donald M. Steinwachs and David S. Salkever. "Economic Rents Derived from Hospital Privileges in the Market for Podiatric Services," Journal of Health Economics, Vol. 6, pp. 319-337 1987.

 
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