The labour supply behaviour of self-employed solo practice physicians

James Thornton ()

Applied Economics, 1998, vol. 30, issue 1, 85-94

Abstract: This paper investigates the empirical labour supply behaviour of self-employed solo practice physicians. The specification of the empirical labour supply equation is based on a model of constrained utility-maximizing behaviour that recognizes the physician makes work/leisure choices based on an endogenous shadow wage and faces a nonlinear budget constraint. The findings suggest that the typical self-employed solo practice male physician operates on the upward-sloping portion of the labour supply curve and is relatively unresponsive to changes in marginal hourly medical practice earnings and non-practice income.

Date: 1998
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DOI: 10.1080/000368498326173

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