For-profit

Definition

Health Economics

  • A motive postulated for much economic behaviour alongside - and partially in conflict with - utility maximization. The legitimate role of profit-seeking in health care provision has concerned health economists from the earliest days of the sub-discipline, both in order to understand better why the non-profit organization is so frequently found, even in market-oriented economies, and whether on balance and in what circumstances it can be counted as a good thing. Opinion amongst economists is unlikely, however, to reach a consensus, given the wider political connotations of the issue. The pioneering piece is Newhouse (1970).
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