Input constraints and the efficiency of entry
lessons from cardiac surgery
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Author
Contributions
- Huckman, Robert S. - Contributor
- Kolstad, Jonathan T. - Contributor
- Harvard Business School - Contributor
Publication
2009 - Harvard Business School, Boston, Massachusetts
Language
English
Word Count
7,750 words, Guess
Page Count
31 pages
Identifiers
- OCLC Control Number542387187
- Open LibraryOL45170907M
Description
Prior studies suggest that, with elastically supplied inputs, free entry may lead to an inefficiently high number of firms in equilibrium. Under input scarcity, however, the welfare loss from free entry is reduced. Further, free entry may increase use of high-quality inputs, as oligopolistic firms underuse these inputs when entry is constrained. We assess these predictions by examining how the 1996 repeal of certificate-of-need (CON) legislation in Pennsylvania affected the market for cardiac surgery in the state. We show that entry led to a redistribution of surgeries to higher-quality surgeons and that this entry was approximately welfare neutral.
Subjects
Series Statement
- Working paper / Harvard Business School -- 10-011
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