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1、JournalofHealthEconomics21(2002)293311Asymmetricinformation,ownershipandqualityofcare:anempiricalanalysisofnursinghomesShin-YiChou∗DepartmentofHumanitiesandSocialSciences,NewJerseyInstituteofTechnologyandNationalBureauofEconomicResearch,UniversityHeights
2、,Newark,NJ07102-1982,USAReceived1September2001;receivedinrevisedform1October2001;accepted8October2001AbstractTheoretically,whenasymmetricinformationexists,nonprofitorganizations,duetotheattenua-tionofthepropertyright,providebetterqualityofservicethandothe
3、for-profits.Despiteextensivetheoreticalexaminationofthebehaviorofnonprofits,therehasbeenverylittleempiricaltestingoftheplausibilityofthesetheories.Thisarticleaddressestheeffectofownershiptypeonthequalityofserviceinthenursinghomeindustry,anenvironmentpartic
4、ularlyconducivetoidentifyingtheexistenceofasymmetricinformation.Thestudyshowsthatthedifferencesbetweenfor-profitandnonprofithomesdobecomemanifestwhenasymmetricinformationispresent.©2002ElsevierScienceB.V.Allrightsreserved.JELclassification:I1;L3Keywords:Nur
5、singhome;Qualityofcare;Asymmetricinformation;Durationmodel;Unmeasuredheterogeneity1.IntroductionSincetheearly1970s,economistshavedevelopedaricharrayoftheoriestoexplaintheroleandthebehaviorofnonprofitorganizations.Intheearlymodels,thebehaviorofnonprofitfirms
6、washypothesizedasmaximizingthequalityorquantityoftheservicetheyproduce(Newhouse,1970).Adifferentview,summarizedbyHansmann(1980),isthattheimpactoftheorganizationalformonthefirmsperformancedependsontheinteractionbetweeninstitutionalstructuresandoutputcharac
7、teristics.Whentheoutputisdifficultfortheconsumertoobserveorwhenasymmetricinformationexistsbetweentheproviderandtheconsumer,nonprofitorganizations,duetotheattenuationofthepropertyright,provideabetterqualityofservicethandothefor-profits.Thisidea,termedthecont
8、ractfailure∗Tel.:+1-973-642-4177.E-mailaddress:chou@admin.njit.edu(S.-Y.Chou).0167-6296/02/$seefrontmatter©2002ElsevierScienceB.V.Allrightsreserved.PII:S0167-6296(01)00123-0294S.-Y.Chou/JournalofHealthEconomics21(2002)293–
