Equity and efficiency in health care

Donald Light

Social Science & Medicine, 1992, vol. 35, issue 4, 465-469

Abstract: Adam Smith's belief that markets will make society more equitable and efficient is examined in the case of reforms to make health care more competitive. Eight ways in which health care does not often satisfy the requirements for competitive markets, and nine ways in which providers can manipulate markets are identified. The concept of 'embedded inefficiencies' is introduced to explain why competition may not increase efficiency.

Keywords: equity; efficiency; health; care; markets; competition; medicine; doctors (search for similar items in EconPapers)
Date: 1992
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Citations: View citations in EconPapers (4)

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