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3. Read the New Zealand Herald opinion piece We should pay doctors to work only in the public system (available from the ECONS102 Readings list).

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3. Read the New Zealand Herald opinion piece "We should pay doctors to work only in the public system" (available from the ECONS102 Readings list). Briefly explain the principal- agent problem that arises in healthcare. Explain how the 'dual practice' system that New Zealand operates makes this problem worse. Other than banning doctors from dual practice, how could this principal-agent problem be reduced? [10 marks]

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