The contribution of this paper is in emphasizing endogenous credit rationing in the analysis of effects of bankruptcy rules on entrepeneurs’ decisions with respect to risktaking and ex ante skill-development. Unlike most of the literature, both the debt claim and the amount of debt financing is endogenous in our exercise. This allows us to determine the extent of credit rationing that banks use...

We develop a model to analyze parallel public and private health-care financing under two alternative public sector rationing rules: needs-based rationing and random rationing. Individuals vary in income and severity of illness. There is a limited supply of health-care resources used to treat individuals, causing some individuals to go untreated. Insurers (both public and private) must bid to o...

Stock rationing is an inventory policy that allows differential treatment of customer classes without using separate inventories. In this paper, we propose a dynamic rationing policy for continuous review inventory systems, which utilizes the information on the status of the outstanding replenishment orders. For both backordering and lost sales environments, we conduct simulation studies to com...

This article considers how the 'accidental logics' of political settlements for the English National Health Service (NHS) and the Medicare and Medicaid programmes in the United States have resulted in different institutional arrangements and different implicit social contracts for rationing, which we define to be the denial of health care that is beneficial but is deemed to be too costly. This ...

Rationing is an inventory policy that allows prioritization for different demand classes. This prioritization results in a different service level for each demand class. The mechanism through which the rationing policy is implemented is to stop serving lower priority classes when the inventory on hand drops below a certain critical level. Under this level, only higher priority classes are serve...

Elements of regulation inherent in all social health insurance systems are a uniform package of bene…ts and uniform cost sharing. Both elements risk to burden the population with a welfare loss if preferences di¤er. Since the debate about rationing importantly involves age as a criterion, this study examines the relationship between age and willingness-to-pay (WTP) for modi…cations in Swiss soc...

General Equilibrium and the Emergence of (Non) Market Clearing Trading Institutions We consider a pure exchange economy, where for each good several trading institutions are available, only one of which is market-clearing. The other feasible trading institutions lead to rationing. To learn on which trading institutions to coordinate, traders follow behavioural rules of thumb that are based on t...

The current economic situation is the reason for this conference that will be split in two main areas: first, we will focus on general concepts on rationalizing versus rationing in health care, and secondly, on rationing in the practice of clinical nutrition. According to the Spanish Royal Academy of the Language, to rationalize is to organize the production or the work in a manner such the yie...