Journal of Economic Literature
ISSN 0022-0515 (Print) | ISSN 2328-8175 (Online)
The Industrial Organization of Health-Care Markets
Journal of Economic Literature
vol. 53,
no. 2, June 2015
(pp. 235–84)
Abstract
The U.S. health-care sector is large and growing—health-care spending in 2011 amounted to $2.7 trillion and 18 percent of GDP. Approximately half of health-care output is allocated via markets. In this paper, we analyze the industrial organization literature on health-care markets, focusing on the impact of competition on price, quality, and treatment decisions for health-care providers and health insurers. We conclude with a discussion of research opportunities for industrial organization economists, including opportunities created by the U.S. Patient Protection and Affordable Care Act. (JEL J15, J24, J71, J81, K31)Citation
Gaynor, Martin, Kate Ho, and Robert J. Town. 2015. "The Industrial Organization of Health-Care Markets." Journal of Economic Literature, 53 (2): 235–84. DOI: 10.1257/jel.53.2.235Additional Materials
JEL Classification
- J15 Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination
- J24 Human Capital; Skills; Occupational Choice; Labor Productivity
- J71 Labor Discrimination
- J81 Labor Standards: Working Conditions
- K31 Labor Law