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DTSTART;TZID=Europe/Helsinki:20210609T121500
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SUMMARY:Iris Kesternich (KU Leuven) - "Entry decisions and asymmetric competition between non-profit and for-profit homes in the long-term care market"
DESCRIPTION:Microeconomics Seminar : \nTime: 12:15pm – 1:30pm\nDate:  9th June 2021\nRoom: VISIO \nIris Kesternich (KU Leuven) – “Entry decisions and asymmetric competition between non-profit and for-profit homes in the long-term care market” \n\nAbstract: Mostly due to population aging\, the demand for long-term care (LTC) services is growing strongly. Historically\, non-profit nursing homes dominated the German LTC market\, but the recent entry wave was tilted towards for-profit competitors. Using a rich administrative dataset on all LTC facilities in Germany\, we examine strategic interaction between these two ownership types in a static entry model. The estimates of competitive effects imply that non-profit and for-profit homes are substitutes\, but competition is much stronger within-type\, suggesting that they provide differentiated products. For-profit homes\, in particular\, act as if they operate in a different market segment\, but over time their entry behavior has converged to that of the more established non-profits. Counterfactual simulations of proposed changes in government policy suggest a large impact on the fraction of markets that remain unserved or only served by a single type. Joint work with Iris Grant and Johannes Van Biesebroeck. \n  \n\nOrganizers:\nRoxana Fernandez Machado (CREST)\, Julien Combe (CREST)\, and Matias Nunez (CREST)\nSponsors:\nCREST\n  \n
URL:https://crest.science/event/iris-kesternich-ku-leuven-entry-decisions-and-asymmetric-competition-between-non-profit-and-for-profit-homes-in-the-long-term-care-market/
CATEGORIES:Microeconomics
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