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Hospital competition in prices and quality : A variational inequality framework
| Content Provider | Semantic Scholar |
|---|---|
| Author | Nagurney, Anna |
| Copyright Year | 2017 |
| Abstract | In this paper, we construct a game theory model to capture competition among hospitals for patients for their medical procedures. The utility functions of the hospitals contain a revenue component and a component due to altruism benefit. The hospitals compete in prices charged to paying patients as well as in the quality levels of their procedures. Both prices and quality levels are subject to lower and upper bounds. We state the governing Nash equilibrium conditions and provide the variational inequality formulation.Weestablish existence of an equilibriumprice andquality pattern and also present a Lagrange analysis of the equilibrium solutions. An algorithm is proposed and then applied to numerical examples comprising a case study focusing on four major hospitals in Massachusetts. © 2017 Elsevier Ltd. All rights reserved. |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | https://supernet.isenberg.umass.edu/articles/HospitalCompetition.pdf |
| Alternate Webpage(s) | http://isiarticles.com/bundles/Article/pre/pdf/91308.pdf |
| Language | English |
| Access Restriction | Open |
| Subject Keyword | Algorithm Charge (electrical) Game theory Nash equilibrium Numerical analysis Numerical method Patients Social inequality Solutions Variational inequality Variational principle |
| Content Type | Text |
| Resource Type | Article |
