scholarly journals Competition and Product Choice in Option Demand Markets

2016 ◽  
Vol 16 (2) ◽  
pp. 785-805 ◽  
Author(s):  
Gilad Sorek
Keyword(s):  
Spot Markets ◽  
Product Choice ◽  
Medical Providers ◽  
Insurance Policy ◽  
Public Insurance ◽  
Market Structures ◽  
The Public ◽  
Medical Products ◽  
Equilibrium Prices ◽  
Product Choices

Abstract This work presents the first analysis of competition through horizontal and vertical differentiation in option demand markets, which are common in the health-care sector. I studied two alternative market structures: (a) a “pure” option demand market where medical providers sell insurance directly to consumers and (b) a public insurance regime where the public insurer bargains over prices with providers before bundling both products under a single insurance policy. I show that (a) product choices in option demand markets differ greatly from those in respective spot markets and (b) bundling medical products under a single insurance policy alters product choices and equilibrium prices in a way that does not benefit consumers.

Public Health Insurance with Monopolistically Competitive Providers and Optional Spot Sales

2018 ◽  
Vol 18 (1) ◽  
Author(s):  
Gilad Sorek ◽  
T. Randolph Beard
Keyword(s):  
Insurance Coverage ◽  
Public Health Insurance ◽  
Medical Providers ◽  
Therapeutic Group ◽  
Public Insurance ◽  
Market Outcomes ◽  
The Public ◽  
Medical Products ◽  
Insurance Price ◽  
Reimbursement Level

AbstractWe study the implications of extending public-insurance coverage over differentiated medical products of the same therapeutic group to market outcomes. The public insurer can set the reimbursement level for medical providers and the copayment for the insured for medical care provided under the policy coverage, but cannot directly control providers’ spot sales (outside of insurance) price. In this setup, the price offered by the public insurer to medical providers must maintain their reservation profit from selling on the spot market directly to consumers. We show that the public insurer can manipulate this reservation profit by setting the copayment rate, and thereby promote market welfare while increasing consumers’ surplus due to lower medical prices and lower market entry. The results survive generalizations including moral hazard and incomplete insurance coverage.

Medical Autonomy and Modern Healthcare

2017 ◽  
Author(s):  
Jessica Flanigan
Keyword(s):  
Product Liability ◽  
Medical Decision ◽  
Medical Providers ◽  
Public Officials ◽  
Public Provision ◽  
Self Medication ◽  
Medical Decisions ◽  
The Public ◽  
Patient’S Rights ◽  
Access Information

Though rights of self-medication needn’t change medical decision-making for most patients, rights of self-medication have the potential to transform other aspects of healthcare as it is currently practiced. For example, if public officials respected patient’s authority to make medical decisions without authorization from a regulator or a physician, then they should also respect patient’s authority to choose to use unauthorized medical devices and medical providers. And many of the same reasons in favor of rights of self-medication and against prohibitive regulations are also reasons to support patient’s rights to access information about pharmaceuticals, including pharmaceutical advertisements. Rights of self-medication may also call for revisions to existing standards of product liability and prompt officials to rethink justifications for the public provision of healthcare.

Social versus Private Insurance

2018 ◽  
Author(s):  
Pierre Pestieau ◽  
Mathieu Lefebvre
Keyword(s):  
Social Insurance ◽  
Private Insurance ◽  
Population Ageing ◽  
Fiscal Competition ◽  
Public Insurance ◽  
The Public ◽  
Social Risks ◽  
The Family ◽  
Private And Public

This chapter looks at the role of the public versus the private sector in the provision of insurance against social risks. After having discussed the evolution of the role of the family as support in the first place, the specificity of social insurance is emphasized in opposition to private insurance. Figures show the extent of spending on both private and public insurance and the chapter presents economic reasons to why the latter is more developed than the former. Issues related to moral hazard and adverse selection are addressed. The chapter also discusses somewhat more general arguments supporting social insurance such as population ageing, unemployment, fiscal competition and social dumping.

scholarly journals Selecting a Green, Agile and Industry 4.0 Supplier With the Fuzzy-Swara-Bwm Integrated Method

2021 ◽  
Author(s):  
Mehmet Ali Tas ◽  
Serap Akcan
Keyword(s):  
Supply Chains ◽  
Industry 4.0 ◽  
Supplier Selection ◽  
Three Dimensions ◽  
Market Structures ◽  
The Public ◽  
Integrated Method ◽  
Decision Making Processes ◽  
Technological Opportunities

Abstract Businesses establish supply chains in order to continue their activities. Choosing the suppliers to take part in these supply chains poses many challenges in rapidly changing conditions. Environmental concerns in the public, competitive market structures, and developing technological opportunities affect the decision-making processes. Different criteria are taken into consideration instead of traditional criteria such as cost and service. In this study, green, agile, and Industry 4.0 dimensions and the criteria under these dimensions are defined. According to these, the problem of selecting the supplier that responds to the expectations of the markets and enables them to increase their competitiveness was discussed. Fuzzy SWARA and fuzzy BMW methods were applied in an integrated way to solve the supplier selection problem under these three dimensions. A real case study was also presented. In the study, the results obtained by creating different scenarios were compared and sensitivity analysis was made. The results obtained show that the hybrid method developed in this study is effective in supplier selection problems. As a result of the study, the most important evaluation dimension is "agile" and the most important criterion is "delivery speed".

The Economics of Cloud Computing

2015 ◽  
pp. 2135-2148 ◽  
Author(s):  
Federico Etro
Keyword(s):  
Cloud Computing ◽  
New Technology ◽  
Fixed Costs ◽  
Substantial Impact ◽  
Market Structures ◽  
The Public ◽  
Marginal Costs ◽  
Job Reallocation ◽  
New Business ◽  
The Cost

This chapter examines the economic impact of the diffusion of a new technology as cloud computing. This will allow firms to rent computing power and storage from service providers, and to pay on demand, with a profound impact on the cost structure of all the industries, turning some of the fixed costs in marginal costs of production. Such a change will have a substantial impact on the incentives to create new business, and through this, on: investments and macroeconomic growth, job creation in all industries and job reallocation in the ICT sector, and public finance accounts, through the direct impact on the public sector spending and the indirect one on the tax revenues. In this study, the author investigates the consequences of the diffusion of cloud computing on market structures and competition and tries to disentangle the above mentioned aspects with a particular focus on a simulation run for the European economy.

scholarly journals Optimal Regulation in the Presence of Reputation Concerns *

2014 ◽  
Vol 130 (1) ◽  
pp. 415-464 ◽  
Author(s):  
Andrew Atkeson ◽  
Christian Hellwig ◽  
Guillermo Ordoñez
Keyword(s):  
Firm Dynamics ◽  
Total Production ◽  
Entry And Exit ◽  
Free Entry ◽  
Spot Prices ◽  
The Public ◽  
Equilibrium Prices ◽  
Random Growth ◽  
The Impact

Abstract In all markets, firms go through a process of creative destruction: entry, random growth, and exit. In many of these markets there are also regulations that restrict entry, possibly distorting this process. We study the public interest rationale for entry taxes in a general equilibrium model with free entry and exit of firms in which firm dynamics are driven by reputation concerns. In our model firms can produce high-quality output by making a costly but efficient initial unobservable investment. If buyers never learn about this investment, an extreme “lemons problem” develops, no firm invests, and the market shuts down. Learning introduces reputation incentives such that a fraction of entrants do invest. We show that if the market operates with spot prices, entry taxes always enhance the role of reputation to induce investment, improving welfare despite the impact of these taxes on equilibrium prices and total production.

Regulation and Privatisation of the Public Water Supply in England, France and Germany

2007 ◽  
Vol 8 (2) ◽  
pp. 101-116 ◽  
Author(s):  
Johann Wackerbauer
Keyword(s):  
Private Sector ◽  
Water Supply ◽  
Water Resource Management ◽  
Market Structures ◽  
The Public ◽  
The United Kingdom ◽  
Publicly Owned ◽  
Water Companies ◽  
Basic Features ◽  
The Eu

Faced with liberalisation proposals and an increasing internationalisation of water resource management, the question arises as to how a change of the regulatory framework in Germany would affect the market structure and the supply conditions in this area. The water supply companies in Germany have invested ca. €2.5 billion annually to achieve a high technical standard, which has resulted in high cost increases and price hikes. It is thus presumed that there is a high rationalisation potential for the municipal water suppliers. The questions of economic efficiency and the participation of private providers in the water supply have increasingly gained importance. A liberalisation of the water supply can take place in different ways; the concrete basic features depend on what regulations the market for drinking water is or should be subject to and in what way and to what extent the private sector is involved into the organisation of water supply. In the EU-15, the only country where the provision of operational services in the water supply has been totally passed to the private sector is the United Kingdom, but this is only true for England and Wales. Another singular case is France, where there is a mix of mainly private operating companies and municipalities which have divided the regional supply areas among themselves. In six other EU-15 countries where some privatisation took place, either the municipalities or (majority) publicly owned companies are controlling water supply. In the remaining seven countries, the water supply is organised by municipality companies only. In this paper the two unique forms of privatisation in France and England/Wales as well as the German method of privatisation as an example for the interaction of municipalities and majority publicly owned water companies are discussed, especially with regard to the corresponding effects on competition and market structures.

scholarly journals In Waze We Trust: Algorithmic Governance of the Public Sphere

2018 ◽  
Vol 6 (4) ◽  
pp. 153-162 ◽  
Author(s):  
Shenja Van der Graaf
Keyword(s):  
Urban Ecosystem ◽  
Market Structures ◽  
The Public ◽  
The Social ◽  
Private And Public ◽  
The Public Sphere ◽  
Public Organisations ◽  
Dynamic Domain ◽  
Point Of Departure ◽  
Public Oversight

This article explores the current ‘place’ of e-government in realizing public value in the context of what seems to be an emerging platform urbanism. It highlights a complex platform-based urban ecosystem encompassing private and public organisations and citizens. This ‘mainstreaming’ of e-government practices puts demands on cities and governments to reconsider their own role in ‘city making’ so as to achieve meaningful public oversight. The point of departure is the operationalization of this ‘place’ by conceptualizing participation and (multi-sided) platformisation as a framework to draw attention to the dynamic domain of e-governance where shifts can be seen in market structures, infrastructures, and changing forms of governance, and which may challenge the public interest. This is illustrated by an exploration of the social traffic and navigation application Waze.

scholarly journals Development Strategy of Waqf through The Instrument of The Testament of Sharia Insurance Policy

2021 ◽  
Vol 5 (1) ◽  
pp. 89-102
Author(s):  
Mariana Puspa Dewi ◽  
Ifelda Nengsih
Keyword(s):  
Development Strategy ◽  
Life Insurance ◽  
Management Strategy ◽  
Field Research ◽  
Public Understanding ◽  
Insurance Policy ◽  
Insurance Agents ◽  
The Public ◽  
The Development Strategy ◽  
Depth Interviews

Previous research tends to discuss the management of waqf assets obtained from testament waqf, but this study focuses on the management of the instrument of testament waqf that is attached to life insurance by PT.AXA Financial Indonesia. This study aims to determine the waqf management strategy through the instrument of the testament of the sharia insurance policy.  The type of this research is field research, the source of the data is the AXA agency, and customers by conducting in-depth interviews. The results show that: 1) Waqf management is used to build assets such as mosques, prayer rooms, Islamic boarding schools, and madrasas, 2) The opportunity is that waqf management can be integrated online, and also collaborate with various waqf distribution agencies in Indonesia. The obstacles that occur are the lack of public understanding of the testament of the sharia insurance policy, and 3) The development strategy is integrated socialization to the public through various means and media. It is concluded that the waqf instrument is an alternative to carrying out worship after death, even though the public is not too familiar with the use of this instrument, it is an obligation for all insurance agents at PT. AXA to socialize this Instrument so that it can be an attraction for insurance. 

scholarly journals ‘Where and how do you buy medicines?’ A pilot survey of consumption strategies among the public in Sweden

2019 ◽  
Vol 42 (3) ◽  
pp. e268-e271 ◽  
Author(s):  
S Lundin ◽  
R Liu
Keyword(s):  
Public Health ◽  
Online Survey ◽  
Research Area ◽  
Short Report ◽  
Sociocultural Perspective ◽  
The Public ◽  
Pilot Survey ◽  
Medical Products ◽  
Market Formation ◽  
Consumption Strategies

Abstract Background Substandard and falsified (SF) medical products are a major danger to public health. They affect every region of the world, and have been identified in all major therapeutic categories. Studies from medicine, pharmacology, law and public health dominate this research area with a focus on the supply side. However, the spread of SF medical products cannot be fully understood without information about the demand side or a sociocultural perspective on market formation. The aim of this short report is to present findings from a pilot study that examines the attitudes of the Swedish public regarding consumption of medicines. Methods We conducted a pilot survey in 2016 ‘Where and how do you buy medicines?’ using LimeSurvey, an open-source online survey software. In total 155 respondents completed the survey. Results The majority of respondents turn to doctors within healthcare for prescription-only medicines (POM). Simultaneously, some respondents would consider buying POMs without prior contact with experts even if medicines may come from unsafe sources. Conclusions There is a tendency that people move away from formal healthcare towards an unregulated market. In parallel, people’s approach to doctors becomes more personalized and pragmatic than in former patriarchal relationships. Risk becomes a negotiable concept.

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