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1、JournalofHealthEconomics21(2002)293311Asymmetricinformation,ownershipandqualityofcare:anempiricalanalysisofnursinghomesShin-YiChou?DepartmentofHumanitiesandSocialSciences,NewJerseyInstituteofTechnologyandNationalBureauofEconomicResearch,UniversityHeights
2、,Newark,NJ07102-1982,USAReceived1September2001;receivedinrevisedform1October2001;accepted8October2001AbstractTheoretically,whenasymmetricinformationexists,nonpro?torganizations,duetotheattenua-tionofthepropertyright,providebetterqualityofservicethandothe
3、for-pro?ts.Despiteextensivetheoreticalexaminationofthebehaviorofnonpro?ts,therehasbeenverylittleempiricaltestingoftheplausibilityofthesetheories.Thisarticleaddressestheeffectofownershiptypeonthequalityofserviceinthenursinghomeindustry,anenvironmentpartic
4、ularlyconducivetoidentifyingtheexistenceofasymmetricinformation.Thestudyshowsthatthedifferencesbetweenfor-pro?tandnonpro?thomesdobecomemanifestwhenasymmetricinformationispresent.?2002ElsevierScienceB.V.Allrightsreserved.JELclassi?cation:I1;L3Keywords:Nur
5、singhome;Qualityofcare;Asymmetricinformation;Durationmodel;Unmeasuredheterogeneity1.IntroductionSincetheearly1970s,economistshavedevelopedaricharrayoftheoriestoexplaintheroleandthebehaviorofnonpro?torganizations.Intheearlymodels,thebehaviorofnonpro?t?rms
6、washypothesizedasmaximizingthequalityorquantityoftheservicetheyproduce(Newhouse,1970).Adifferentview,summarizedbyHansmann(1980),isthattheimpactoftheorganizationalformonthe?rmsperformancedependsontheinteractionbetweeninstitutionalstructuresandoutputcharac
7、teristics.Whentheoutputisdif?cultfortheconsumertoobserveorwhenasymmetricinformationexistsbetweentheproviderandtheconsumer,nonpro?torganizations,duetotheattenuationofthepropertyright,provideabetterqualityofservicethandothefor-pro?ts.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–
