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Behavioral Economics

Economics Publications

1974

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The Rising Price Of Physicians' Services: A Clarification, Douglas Brown, Martin Feldstein, Harvey Lapan Aug 1974

The Rising Price Of Physicians' Services: A Clarification, Douglas Brown, Martin Feldstein, Harvey Lapan

Economics Publications

Several years ago, one of us presented a model of the market for physicians' services (Feldstein, 1970). In a subsequent comment, Brown and Lapan ( 1972) raised several questions about the model and the conclusions. Unfortunately, this comment and the reply by Feldstein ( 1972) left a number of issues unsettled. Some of the disagreement was based on misunderstanding and on drawing inferĀ­ ences from different theoretical models. After the publication of the comment and reply, we continued to pursue the basis of our disagreements. The curĀ­ rent note is an attempt to clarify the issues that were raised but not resolved ...