Health Economics Exam Review.docx

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Department
Economics
Course
ECO440H5
Professor
Multiple Professors
Semester
Winter

Description
Health Economics Exam ReviewSupplier Induced Demandavoid using the word needexs Insurance particularly associated with ownership of assets outside of healthcare ex Cars washers Not the assets themselves but the warranties summary durable foods we cant fix ourselvesreally based around information asymmetry the person supplying the service knows more information than the consumer Supplier can influence supply and demandin health care ppl are often uninformed May have services suggested that only provide marginal benefitstrust now plays a role If you dont trust a service provider you would go to another and another and so on depending on when you trsut a provider and when the transaction costs get higherfeeforservice encourages supplier induced demand The more you do the more you get So of course theyll want to do more tests and so onSummary so far information asymmetry and fee for service drive supplier induce
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