This note investigates the standard Bertrand-Edgeworth duopolistic competition in which two firms sell a homogenous good and have an identical capacity constraint. We examine three firstcome, first-served rationing rules: a) high-to-low rationing where customers arrive in decreasing order of willingness to pay, b) proportional rationing where customer arrivals are independent of willingness to ...

BACKGROUND Bedside rationing by physicians is controversial. The debate, however, is clouded by lack of information regarding the extent and character of bedside rationing. DESIGN, SETTING, AND PARTICIPANTS We developed a survey instrument to examine the frequency, criteria, and strategies used for bedside rationing. Content validity was assessed through expert assessment and scales were test...

We study optimal public health care rationing and private sector price responses. Consumers differ in their wealth and illness severity (defined as treatment cost). Due to a limited budget, some consumers must be rationed. Rationed consumers may purchase from a monopolistic private market. We consider two information regimes. In the first, the public supplier rations consumers according to thei...

Rationing of health care in the United States currently exists via the covert mechanism of restricting significant segments of medical care for many of those who cannot afford it. Provision of universal health care would necessitate explicit rationing of certain interventions and technologies, even though an individual could afford them. The British and Canadian experiences provide lessons from...

A new concept of consistency for cost sharing solutions is discussed, analyzed, and related to the homonymous property within the rationing context. The class of additive and consistent mechanisms is isomorphic to the class of consistent and monotonic rationing methods. Consequently average and serial cost sharing are consistent, whereas Shapley-Shubik is not. Average cost sharing is the only s...

As healthcare expenditures have continued to grow in the United States and elsewhere, the demand for cost-cutting measures has increased. This has led many to wonder if we are, in fact, rationing health care. Critical care is characterized by very high expenditures on a relatively few number of patients, many of whom do not survive, and it is therefore a likely place where rationing could occur...

Previous theories of "nancial market rationing focussed on a single market, either the credit or the equity market. An interesting question is whether credit and equity rationing are mutually compatible, and how they interact. We consider a model with twodimensional asymmetric information, where entrepreneurs have private information about both the expected returns and the risk of their project...