Accession Number : AD0687433

Title :   LIFETIME EARNINGS AND THE PHYSICIAN'S CHOICE OF SPECIALTY,

Corporate Author : RAND CORP SANTA MONICA CALIF

Personal Author(s) : Sloan,Frank A.

Report Date : MAY 1969

Pagination or Media Count : 28

Abstract : The objective of the study is to determine whether lifetime earnings in various physician specialties influence choice of field. If income does affect these decisions, what is the magnitude of the supply response. In Section II estimates of lifetime earnings are described. As is seen in Section III, specialty-general practice income differentials do not explain why virtually all medical school graduates enter residency programs in a physician specialty. Although earnings may not explain the decision to specialize, choices among particular specialties may reflect inter-specialty income differences. A model which measures the supply response to lifetime earnings is presented in Section IV. Although the sign of the lifetime earnings coefficient is significant in most regression equations at the one per cent level, the supply response to income is small. In Section V the lifetime earnings are replaced by a simplier measure of income, median earnings by specialty. The estimated response elacticities are virtually the same as before. Possible deficiencies in the model are examined in Section VI. Section VII contains concluding remarks. (Author)

Descriptors :   (*MEDICAL PERSONNEL, SALARIES), (*SALARIES, DECISION MAKING), JOB ANALYSIS, STATISTICAL ANALYSIS, MATHEMATICAL MODELS

Subject Categories : Personnel Management and Labor Relations

Distribution Statement : APPROVED FOR PUBLIC RELEASE