rev1 - medical arms race prisoners’ dilemma Nash...

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HPAM8600: Health Economics UGA College of Public Health Professor Angela Fertig Spring 2010 Review Topics for Midterm 1 production function and diminishing marginal product flat of the curve diagram non-medical inputs to health Grossman vs. Fuchs – theories about how education affects health elasticity Rand Health Insurance Experiment main finding Fuchs Nevada/Utah study Grossman’s model of health determinants labor-leisure diagram budget constraint indifference curve Grossman model equilibrium equation investment yield-health capital diagram Grossman model predictions average total cost short-run vs. long-run economies of scale, constant returns to scale, and diseconomies of scale economies of scope competitive market – characteristics and price determination certificate of need laws
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Unformatted text preview: medical arms race prisoners’ dilemma, Nash equilibrium, and dominant strategy monopoly – characteristics and profit maximization demand curve marginal revenue and marginal cost profit equation cost shifting excess demand or shortage nondistribution in terms of non-profits externalities, public goods and free riders 3 theories about why non-profits exist 3 theories about whether non-profits provider higher quality care measures of factor productivity labor supply and demand monopsony power price discrimination supplier induced demand small area variation variance and coefficient of variation consumer surplus medical malpractice and defensive medicine community vs. experience rated insurance...
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