Abstract
Non-pecuniary sources of motivation are a strong feature of the health care sector and the impact of competitive incentives on behavior may be lower where pecuniary motivation is low. This paper measures the marginal utility of income (MUY) of physicians from a stated-choice experiment, and examines whether this measure influences the association between competition faced by physicians and the prices they charge. We find that physicians are more likely to exploit a lack of competition with higher prices if they have a high MUY.
| Original language | English |
|---|---|
| Pages (from-to) | 1695-1712 |
| Number of pages | 18 |
| Journal | Health Economics |
| Volume | 31 |
| Issue number | 8 |
| Early online date | 28 May 2022 |
| DOIs | |
| Publication status | Published - Aug 2022 |
Bibliographical note
Funding Information:Funding is acknowledged from an Australian Research Council Future Fellowship (FT0991296) and an National Health and Medical Research Council (NHMRC) Principal Research Fellowship (628,471). Used data from the MABEL longitudinal survey of doctors. Funding for MABEL was provided by the NHMRC (2007–2016: 454799 and 1019605); the Australian Department of Health and Aging (2008); Health Workforce Australia (2013); The University of Melbourne, Medibank Better Health Foundation, the New South Wales Department of Health, and the Victorian Department of Health and Human Services (2017); and the Australian Government Department of Health, the Australian Digital Health Agency, and the Victorian Department of Health and Human Services (2018). We thank the doctors who gave their valuable time to participate in MABEL, and the other members of the MABEL research team. Open access publishing facilitated by The University of Melbourne, as part of the Wiley ‐ The University of Melbourne agreement via the Council of Australian University Librarians.
Funding Information:
Funding is acknowledged from an Australian Research Council Future Fellowship (FT0991296) and an National Health and Medical Research Council (NHMRC) Principal Research Fellowship (628,471). Used data from the MABEL longitudinal survey of doctors. Funding for MABEL was provided by the NHMRC (2007–2016: 454799 and 1019605); the Australian Department of Health and Aging (2008); Health Workforce Australia (2013); The University of Melbourne, Medibank Better Health Foundation, the New South Wales Department of Health, and the Victorian Department of Health and Human Services (2017); and the Australian Government Department of Health, the Australian Digital Health Agency, and the Victorian Department of Health and Human Services (2018). We thank the doctors who gave their valuable time to participate in MABEL, and the other members of the MABEL research team. Open access publishing facilitated by The University of Melbourne, as part of the Wiley - The University of Melbourne agreement via the Council of Australian University Librarians.
Publisher Copyright:
© 2022 The Authors. Health Economics published by John Wiley & Sons Ltd.
Keywords
- competition
- financial incentives
- motivation
- physicians