Question
A health economist from Yale published a recent academic article looking at the relationship between health outcomes and hospital prices. They (more than one author)
A health economist from Yale published a recent academic article looking at the relationship between health outcomes and hospital prices.
They (more than one author) did lots of fancy regression analysis and the conclusion of their research was this: when there were several hospitals in a region (roughly 50 miles) there was a positive and significant relationship between prices (X) and quality of health outcomes (Y) at the hospital. When there were no other hospitals within 50 miles, they found no significant relationship between price and health outcomes.
Given our discussion of markets, provide an explanation for this results and conclusions.
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Statistics For Business Decision Making And Analysis
Authors: Robert Stine, Dean Foster
2nd Edition
978-0321836519, 321836510, 978-0321890269
