Book•
Intermediate microeconomics : A modern approach
01 Jan 2006-
TL;DR: The Varian approach as mentioned in this paper gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation, and is still the most modern presentation of the subject.
Abstract: This best-selling text is still the most modern presentation of the subject. The Varian approach gives students tools they can use on exams, in the rest of their classes, and in their careers after graduation.
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TL;DR: The proposed approach revealed new insights into what patients value when visiting physicians and what they take for granted, and supports physicians in identifying potential for improvements and prioritizing resource allocation to improve the publicly available overall evaluation ratings on PRWs.
Abstract: Background: Customer-oriented health care management and patient satisfaction have become important for physicians to attract patients in an increasingly competitive environment. Satisfaction influences patients’ choice of physician and leads to higher patient retention and higher willingness to engage in positive word of mouth. In addition, higher satisfaction has positive effects on patients’ willingness to follow the advice given by the physician. In recent years, physician-rating websites (PRWs) have emerged in the health care sector and are increasingly used by patients. Patients’ usage includes either posting an evaluation to provide feedback to others about their own experience with a physician or reading evaluations of other patients before choosing a physician. The emergence of PRWs offers new avenues to analyze patient satisfaction and its key drivers. PRW data enable both satisfaction analyses and implications on the level of the individual physician as well as satisfaction analyses and implications on an overall level.
Objective: This study aimed to identify linear and nonlinear effects of patients’ perceived quality of physician appointment service attributes on the overall evaluation measures that are published on PRWs.
Methods: We analyzed large-scale survey data from a German PRW containing 84,680 surveys of patients rating a total of 7038 physicians on 24 service attributes and 4 overall evaluation measures. Elasticities are estimated from regression models with perceived attribute quality as explanatory variables and overall evaluation measures as dependent variables. Depending on the magnitude of the elasticity, service attributes are classified into 3 categories: attributes with diminishing, constant, or increasing returns to overall evaluation.
Results: The proposed approach revealed new insights into what patients value when visiting physicians and what they take for granted. Improvements in the physicians’ pleasantness and friendliness have increasing returns to the publicly available overall evaluation (b=1.26). The practices’ cleanliness (b=1.05) and the communication behavior of a physician during a visit (b level between .97 and 1.03) have constant returns. Indiscretion in the waiting rooms, extended waiting times, and a lack of modernity of the medical equipment (b level between .46 and .59) have the strongest diminishing returns to overall evaluation.
Conclusions: The categorization of the service attributes supports physicians in identifying potential for improvements and prioritizing resource allocation to improve the publicly available overall evaluation ratings on PRWs. Thus, the study contributes to patient-centered health care management and, furthermore, promotes the utility of PRWs through large-scale data analysis.
29 citations
Cites methods from "Intermediate microeconomics : A mod..."
...In our first robustness check, we estimated elasticities from a standard linear-linear regression model by multiplying the resulting linear slope coefficients with the ratio of X and Y (=b1×[X/Y]) [80,81]....
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...Then, we estimated the parameters using ordinary least squares and b1 becomes the elasticity of Y with regard to X (ie, the percentage change in Y caused by a one percentage change in X, see the study by Varian [81])....
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Book•
01 Jan 2006
TL;DR: In this article, the authors discussed the effects of the ATM network market structure on the availability of cash withdrawal ATM services and cash usage, and the effect of the number of ATMs on cash in circulation is analyzed both theoretically and empirically.
Abstract: This study discusses the effects of the Automated Teller Machine (ATM) network market structure on the availability of cash withdrawal ATM services and cash usage.The aim and novelty of the study is to construct the ATM equation.The study also contributes to the earlier discussion on the effects of ATMs on cash usage.The monopolisation of ATM network market structure and its effects on the number of ATMs and on cash in circulation are analysed both theoretically and empirically.The unique annual data set on 20 countries used in the estimations has been combined from various data sources.The observation period is 1988-2003, but the data on some countries are available only for a shorter period.Based on our theoretical discussion, as well as the estimation results, monopolisation of the ATM network market structure is associated with a smaller number of ATMs.Furthermore, the influence of the number of ATMs on cash in circulation is ambiguous. Key words: ATM, ATM network, monopolisation, demand for cash JEL classification: C33, E41, G2, C11
29 citations
TL;DR: In this article, the authors review and extend previous approaches and find that not all of the familiar predictions of the basic neoclassical model can be generated by a more sophisticated model.
Abstract: Controls on the conditions of renting housing can take many different forms, with different consequences for the market. This paper contains analyses of the effects of different regulatory forms on, in particular, the maintenance decision. We review and extend previous approaches and find that not all of the familiar predictions of the basic neoclassical model can be generated by a more sophisticated model. Others have extended the basic model, focusing on the maintenance aspect, but we cannot agree entirely with their conclusions. A careful specification of the relationship between costs and quality is necessary to derive useful predictions about the effects of rent and eviction controls.
29 citations
TL;DR: In this paper, the screening curve method is utilized to model these details for generation capacity expansion for non-dispatchable renewable energy and more detailed considerations of short-term operation should be represented in generation planning models.
29 citations
09 Apr 2005
TL;DR: This work proposes a volume discount mechanism based on the seller's reservation price and the payment adjustment value that is a strategy-proof mechanism, that is, it has the incentive compatibility and weakens the influence of false name bids.
Abstract: Volume discount is seen as an effective form of electronic commerce and a promising field for applying agent technologies. In current volume discount mechanisms, items are not allocated efficiently to buyers. Namely, social surplus is not maximum in existing volume discount schemes. To solve this problem, we propose a volume discount mechanism based on the seller's reservation price and the payment adjustment value. First, a seller registers his/her items with the evaluation value functions. The seller's evaluation value is sealed and each buyer bids his/her evaluation value as sealed bid. After the deadline, the mechanism determines the allocation of bundles of items. A tentative price is decided and the payment adjustment value is calculated. Finally, the payment amount is calculated. Our mechanism has some key advantages. First, the mechanism is Pareto efficient. Second, our mechanism is a strategy-proof mechanism, that is, it has the incentive compatibility. Third, our mechanism provides individual rationality. Fourth, our mechanism is made based on the volume discount system, where the seller can give a signal indicating a discount for buyers. Finally, our mechanism weakens the influence of false name bids.
29 citations