Elements of regulation inherent in all social health insurance systems are a uniform package of bene…ts and uniform cost sharing. Both elements risk to burden the population with a welfare loss if preferences di¤er. Since the debate about rationing importantly involves age as a criterion, this study examines the relationship between age and willingness-to-pay (WTP) for modi…cations in Swiss soc...

General Equilibrium and the Emergence of (Non) Market Clearing Trading Institutions We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing. To learn on which trading institutions to coordinate, traders follow behavioural rules of thumb that are based on t...

The current economic situation is the reason for this conference that will be split in two main areas: first, we will focus on general concepts on rationalizing versus rationing in health care, and secondly, on rationing in the practice of clinical nutrition. According to the Spanish Royal Academy of the Language, to rationalize is to organize the production or the work in a manner such the yie...

Introduction Thirty years ago, the rationing of healthcare was invisible and silent. Recently, however, healthcare expenditures have become a major focus of public policy. As we look for ways to control spending, we become more aware of the economic trade-offs involved in every healthcare decision. Allocating resources to one service means less left for other services; allocating resources to o...

We study the effects of credit rationing on Research and Development (R&D) investment using survey and accounting data on a large representative sample of manufacturing small and medium size enterprises (SMEs). Our econometric model accounts for the endogeneity of our credit rationing indicator and employs an innovative theory based identification strategy. We find that credit rationing has a s...

BACKGROUND The growing economization of the health care system and implication of market principles in the medical field have risen new and serious questions on the meaning of the medical profession, the doctor-patient relationship and the orientation of medicine itself. The impact of the dynamic clinical structures on the doctor-doctor and the doctor-patient interaction appear even unpredictab...

This paper develops a theory of the firm, and equilibrium credit rationing mechanisms in oligopoly with R&D-product market competition. Credit rationing arises from a hold-up problem between wealth-constrained entrepreneurs and external investors. Underinvestment occurs if entrepreneurial wealth constraint is binding, even though the equilibrium corporate governance structure addresses the hold...

In multi-unit auctions, such as auctions of commodities and securities, and financial exchanges, it is necessary to specify rationing rules to break ties between multiple marginal bids. The standard approach in the literature and in pratice is to ration marginal bids proportionally. This paper shows how bidding can be made more competitive if the rationing rule instead gives increasing priority...