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Multi-tasking, quality and pay for performance

✍ Scribed by Oddvar Kaarboe; Luigi Siciliani

Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
189 KB
Volume
20
Category
Article
ISSN
1057-9230

No coin nor oath required. For personal study only.

✦ Synopsis

We present a model of optimal contracting between a purchaser and a provider of health services when quality has two dimensions. We assume that: (i) the provider is (at least to some extent) altruistic; (ii) one dimension of quality is verifiable (dimension 1) and one dimension is not verifiable (dimension 2); (iii) the two quality dimensions can be either substitutes or complements. Our main result is that setting the price equal to the marginal benefit of the verifiable quality dimension can be optimal even if the two quality dimensions are substitutes.

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