Elsevier S & T

Handbook of Health Economics

Culyer, A J.; Newhouse, J.P.

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Table of contents
  • Cover
  • CONTENTS OF VOLUME 1Axiii
  • Introduction to the Seriesv
  • Contents of the Handbookvii
  • Acknowledgmentsxi
  • Introduction: The State and Scope of Health Economics1
  • The health of health economics1
  • The scope of health economics3
  • The scope of the Handbook6
  • References7
  • PART 1: OVERVIEWS AND PARADIGMS9
  • Chapter 1. International Comparisons of Health Expenditure: Theory, Data and Econometric Analysis11
  • Abstract12
  • Keywords12
  • 1. Background and overview13
  • 2. First-generation studies21
  • 3. Second-generation studies29
  • 4. Summary and concluding remarks45
  • References49
  • Chapter 2. An Overview of the Normative Economics of the Health Sector55
  • Abstract56
  • Keywords56
  • 1. Introduction57
  • 2. Efficiency and normative frameworks59
  • 3. Health care as an economic commodity67
  • 4. Equity in the health sector87
  • 5. Evaluation of programs and interventions96
  • 6. Concluding observations: health economists as policy advisors107
  • References110
  • Chapter 3. Medical Care Prices and Output119
  • Abstract120
  • Keywords121
  • 1. Introduction122
  • 2. The market environment underlying medical care CPIs and PPIs124
  • 3. Construction of medical care CPIs and PPIs at the BLS135
  • 4. Related research on medical care price indexes162
  • 5. A new medical care expenditure price index based on episode treatment costs163
  • 6. Medical care price indexes in the national income and product accounts166
  • References175
  • Chapter 4. Advances in CE Analysis181
  • Abstract182
  • Keywords182
  • 1. Introduction183
  • 2. Cost-effectiveness analysis for decision making187
  • 3. When does CE analysis lead to optimal decisions?198
  • 4. Perspective and cost measurement204
  • 5. Measuring outcomes211
  • 6. Recommendations218
  • References219
  • Chapter 5. Information Diffusion and Best Practice Adoption223
  • Abstract224
  • Keywords224
  • 1. Introduction225
  • 2. Market equilibrium and price variability228
  • 3. Disagreement about the production function237
  • 4. Production and dissemination of information257
  • References261
  • Chapter 6. Health Econometrics265
  • Abstract267
  • 1. Introduction268
  • 2. Identification and estimation268
  • 3. Qualitative dependent variables275
  • 4. Limited dependent variables285
  • 5. Unobservable heterogeneity and simultaneous equations299
  • 6. Longitudinal and hierarchical data305
  • 7. Count data regressions315
  • 8. Duration analysis325
  • 9. Stochastic frontiers331
  • 10. Conclusion335
  • References336
  • PART 2: DEMAND AND REIMBURSEMENT FOR MEDICAL SERVICES345
  • Chapter 7. The Human Capital Model347
  • Abstract348
  • 1. Introduction349
  • 2. Basic model352
  • 3. Pure investment model367
  • 4. Pure consumption model374
  • 5. Empirical testing377
  • 6. Extensions383
  • 7. Health and schooling395
  • 8. Conclusions404
  • References405
  • Chapter 8. Moral Hazard and Consumer Incentives in Health Care409
  • Abstract410
  • 1. Introduction and overview411
  • 2. Dimensions of consumer incentives in health care412
  • 3. The amount of delegation of authority to the physician414
  • 4. Incentives and ex ante moral hazard415
  • 5. Incentives and static ex post moral hazard420
  • 6. Dynamic ex post moral hazard451
  • 7. Concluding remarks453
  • References455
  • Chapter 9. Physician Agency461
  • Abstract462
  • Keywords462
  • 1. Introduction463
  • 2. Demand and supply for physician services468
  • 3. Physician behavior with complete information475
  • 4. Uncertainty about treatment effects and asymmetric information496
  • 5. Physician-induced demand503
  • 6. Other physician objectives520
  • 7. Conclusion526
  • References528
  • Chapter 10. Insurance Reimbursement537
  • Abstract538
  • 1. Introduction539
  • 2. Reimbursement in the theory of insurance539
  • 3. Medical services are different540
  • 4. Indemnity insurance and the theory of health insurance benefits541
  • 5. Optimal reimbursement in price-taking markets with and without moral hazard542
  • 6. Service benefit insurance545
  • 7. Balance billing547
  • 8. Substitutes and complements548
  • 9. Alternatives to reimbursing market-level fee for service548
  • 10. Monopsony and provider market power551
  • 11. Reimbursement and productive efficiency553
  • 12. Heterogeneity in non-competitive markets554
  • 13. Empirical results on reimbursement556
  • 14. Bidding models557
  • 15. Conclusion558
  • References558
  • PART 3: INSURANCE MARKETS, MANAGED CARE, AND CONTRACTING561
  • Chapter 11. The Anatomy of Health Insurance563
  • Abstract564
  • Keywords565
  • 1. Health insurance structures in developed nations568
  • 2. The principles of insurance571
  • 3. Moral hazard and principal-agent problems576
  • 4. Relationships between insurers and providers590
  • 5. Optimal mix of demand- and supply-side controls604
  • 6. Markets for health insurance: plan choice and adverse selection606
  • 7. Person-specific pricing, contract length, and premium uncertainty626
  • 8. Insurance and health outcomes629
  • 9. Conclusions and implications631
  • Appendix634
  • References637
  • Chapter 12. Health Insurance and the Labor Market645
  • Abstract646
  • Keywords646
  • 1. Background on health insurance and the labor market648
  • 2. Health insurance and labor market equilibrium – theory654
  • 3. Evidence on health insurance and job-job mobility664
  • 4. Health insurance and participation in the labor force and public assistance programs674
  • 5. Evidence on health insurance and wages, hours, and employment689
  • 6. Conclusions699
  • References700
  • Chapter 13. Managed Care707
  • Abstract708
  • Keywords708
  • 1. Introduction709
  • 2. What is managed care?711
  • 3. History of managed care717
  • 4. Managed care and market failure721
  • 5. Empirical research on managed care727
  • 6. Economic issues related to the growth of managed care743
  • 7. Conclusions745
  • References745
  • Chapter 14. Risk Adjustment in Competitive Health Plan Markets755
  • Abstract757
  • 1. Introduction758
  • 2. Conceptual aspects of risk adjustment764
  • 3. Risk adjustment models779
  • 4. Risk sharing817
  • 5. The practice of risk adjustment and risk sharing829
  • 6. Directions for future research836
  • References837
  • Chapter 15. Government Purchasing of Health Services847
  • Abstract848
  • Keywords848
  • 1. Introduction849
  • 2. Quality and costs853
  • 3. Quality, demand and fixed price contracts857
  • 4. Empirical findings862
  • 5. Asymmetric information on costs and case-mix867
  • 6. Commitment, hold-up, and the ratchet effect874
  • 7. Reputations878
  • 8. Conclusion884
  • Appendix: The framework with a private market885
  • References887
  • AUTHOR INDEX891
  • SUBJECT INDEX935
Book details
  • Vendor Elsevier S & T
  • SKU 9780444504708
  • ISBN-13 9780080544175
  • Author Culyer, A J.; Newhouse, J.P.
  • Category Medical
  • Subject Public Health

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The Handbook of Health Economics provide an up-to-date survey of the burgeoning literature in health economics. As a relatively recent subdiscipline of economics, health economics has been remarkably successful. It has made or stimulated numerous contributions to various areas of the main discipline: the theory of human capital; the economics of insurance; principal-agent theory; asymmetric information; econometrics; the theory of incomplete markets; and the foundations of welfare economics, among others. Perhaps it has had an even greater effect outside the field of economics, introducing terms such as opportunity cost, elasticity, the margin, and the production function into medical parlance. Indeed, health economists are likely to be as heavily cited in the clinical as in the economics literature. Partly because of the large share of public resources that health care commands in almost every developed country, health policy is often a contentious and visible issue; elections have sometimes turned on issues of health policy. Showing the versatility of economic theory, health economics and health economists have usually been part of policy debates, despite the vast differences in medical care institutions across countries. The publication of the first Handbook of Health Economics marks another step in the evolution of health economics.