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Quality competition with motivated providers and sluggish demand
Siciliani, Luigi; Straume, Odd Rune; Cellini, RobertoWe study incentives for quality provision in markets where providers are motivated (semi-altruistic); prices are regulated and firms are funded by a combination of block grants and unit prices; competition is based on quality, and demand adjusts sluggishly. Health or education are sectors in which the mentioned features are the rule. We show that the presence of motivated providers makes dynamic competition tou...
Competition and quality in regulated markets : a differential-game approach
Brekke, Kurt R.; Cellini, Roberto; Siciliani, Luigi; Straume, Odd RuneWe investigate the effect of competition on quality in health care markets with regulated prices taking a differential game approach, in which quality is a stock variable. Using a Hotelling framework, we derive the open-loop solution (health care providers set the optimal investment plan at the initial period) and the feedback closed-loop solution (providers move investments in response to the dynamics of the s...
Competition and quality in regulated markets : a differential-game approach
Brekke, Kurt R.; Cellini, Roberto; Siciliani, Luigi; Straume, Odd RuneWe investigate the effect of competition on quality in regulated markets (e.g., health care, higher education, public utilities) taking a differential game approach, in which quality is a stock variable. Using a Hotelling framework, we derive the open-loop solution (providers commit to an optimal investment plan at the initial period) and the closed-loop solution (providers move investments in response to the d...
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