10.3. Pet health care. As documented in a recent paper, the markets for pet health care and human health care are similar in many respects. Specifically, in both markets we observe (i) rapid 10.2. CONSUMER PROTECTION 424 growth in spending over the last two decades; (ii) a strong income- spending gradient; (iii) rapid growth in the employment of health- care providers; and (iv) a similar propensity for high spending at the end of life in pets and humans. However, insurance is much less common in pet care, and regulation or government involvement more broadly — is not as prevalent in pet health care. What does this tell us about the reasons behind the "health care puzzle," namely the fact that the US spends about twice as much in human health care as comparable developed nations?
10.3. Pet health care. As documented in a recent paper, the markets for pet health care and human health care are similar in many respects. Specifically, in both markets we observe (i) rapid 10.2. CONSUMER PROTECTION 424 growth in spending over the last two decades; (ii) a strong income- spending gradient; (iii) rapid growth in the employment of health- care providers; and (iv) a similar propensity for high spending at the end of life in pets and humans. However, insurance is much less common in pet care, and regulation or government involvement more broadly — is not as prevalent in pet health care. What does this tell us about the reasons behind the "health care puzzle," namely the fact that the US spends about twice as much in human health care as comparable developed nations?
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST7: The Economics Of Health Care
Section: Chapter Questions
Problem 1CQ
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