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The
Economic Freedom
Network

  

Table 6: Elasticity estimates for various medical services

Study Services covered Approximate elasticities

Feldstein (1971b)

 Hospital days
point elasticities   0.67

0.5
1.0

.35 to 1.5
arc elasticity over actual range   0.07
0.14
0.06

Davis-Russell (1972)

 Hospital days
Out-patient visits

Rosett Huang (1973)

 All physician and hospital expenses

Phelps-Newhouse (1974)

 All hospita, physician and perscription drug
Office visit expense
Hospital admissions



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