Peter J. Hammer, Deborah Haas-Wilson, Mark A. Peterson, and William M. Sage, eds.
Foreword / Mark V. Pauly vii
Preface / Victor R. Fuchs xiii
Kenneth Arrow and the Changing Economics of Health Care: "Why Arrow? Why
Now?" / Peter J. Hammer, Deborah Haas-Wilson, Mark A. Peterson, and William
M. Sage xvii
Uncertainty and the Welfare Economics of Medical Care (American Economics
Review, 1963) / Kenneth J. Arrow 1
Part 1: Supply, Demand, and Health Care Competition
General Equilibrium and Marketability in the Health Care Industry / Michael
Chernew 37
Arrow's Concept of the Health Care Consumer: A Forty-Year Retrospective /
Frank A. Sloan 49
Uncertainty and Technological Change in Medicine / Annetine G. Gelijns,
Joshua Graff Zivin, and Richard R. Nelson 60
Human Inputs: The Health Care Workforce and Medical Markets / Richard A.
Cooper and Linda H. Aiken 71
Health Care as a (Big) Business: The Antitrust Response / Clark C.
Havighurst 84
Part 2: Risk, Insurance, and Redistribution
Health Insurance and Market Failure since Arrow / Sherry A. Glied 103
Can Efficiency in Health Care Be Left to the Market? / Uwe E. Reinhardt 111
Valuing Charity / Richard Kronick 134
Medical Service Risk and the Evolution of Provider Compensation
Arrangements / Gloria J. Bazzoli 142
The Role of the Capital Markets in Restructuring Health Care / J. B.
Silvers 156
Part 3: Information, Knowledge, and Medical Markets
Arrow and the Information Market Failure in Health Care: The Changing
Content and Sources of Health Care Information / Deborah Haas-Wilson 169
The End of Asymmetric Information / James C. Robinson 181
Managing Uncertainty: Intermediate Organizations as Triple Agents /
Lawrence Casalino 189
Moral Hazard vs. Real Hazard: Quality of Care Post-Arrow / Michael L.
Millenson 202
Part 4: Social Norms and Professionalism
Arrow's Analysis of Social Institutions: Entering the Marketplace with
Giving Hands? / Peter J. Hammer 215
The Market for Medical Ethics / M. Gregg Bloche 230
The Role of Nonprofits in Health Care / Jack Needleman 243
Arrow on Trust / Mark A. Hall 259
From Trust to Political Power: Interest Groups, Public Choice, and Health
Care / Mark A. Peterson 272
Regulating Health Care: From Self-Regulation to Self-Regulation? / Peter D.
Jacobson 290
The Lawyerization of Medicine / William M. Sage 302
Part 5: Response by Professor Arrow
Reflections on Reflections / Kenneth J. Arrow 321
Contributors 327
Index 335
