Estimated Cost Functions for Pennsylvania Hospitals
Date of Original Version
Inquiry Vol. 7, No. 2 (June 1970), pp. 3-14
Abstract or Table of Contents
The relationship between cost and output has been investigated intensively by economists. In addition to the development of elaborate theoretical models, a vast number of empirical cost studies have been undertaken for different types of firms, ranging from farms to electrical utilities. With the rapid increase in hospital costs, it seems natural that economists would apply their statistical techniques to gain insights into some of the patterns of cost increases and reasons for the rise.