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The Industrial Organization of Health-Care Markets

Martin Gaynor¹; Kate Ho²; Robert J. Town³

¹ Carnegie Mellon University, University of Bristol, and NBER · ² Columbia University, NBER, and CEPR · ³ University of Pennsylvania and NBER

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)

DOI

10.1257/jel.53.2.235

Volume

53 (2)

Pages

235-284

Language

en

Export

BibTeX

Sources

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