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The market for health insurance and the market for health care are two market which are plagued with two source of market failure. This discussion will help you explain the difference in these markets.
First, explain the problem of asymmetic information in the market. Then consider, we tolerate a high degree of monopoly power in the market for doctor services in the form of AMA orver site, testing and licensing of doctors. How is asymmetric information at the root of this problems? Should the monopoly power of doctors be reduced or eliminated?
Discuss market innovations that have lowered the cost for the type of health services traditionally performed by doctors.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M9694066

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