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1. Editor's Note–Mark A. Peterson
2. Foreword–Mark V. Pauly
3. Kenneth Arrow and the Changing Economics of Health Care: "Why Arrow? Why Now?"–Peter J. Hammer, Deborah Haas-Wilson, and William M. Sage
4. Uncertainty And The Welfare Economics Of Medical Care–Kenneth J. Arrow
Part 1: Supply, Demand, and Health Care Competition
5. General Equilibrium and Marketability in the Health Care Industry–Michael Chernew
6. Arrow's Concept of the Health Care Consumer: A Forty-Year Retrospective–Frank A. Sloan
7. Uncertainty and Technological Change in Medicine–Annetine C. Gelijns, Joshua Graff Zivin, and Richard R. Nelson
8. Human Inputs: The Health Care Workforce and Medical Markets–Richard A. Cooper and Linda H. Aiken
9. Health Care as a (Big) Business: The Antitrust Response–Clark C. Havighurst
Part 2: Risk, Insurance, and Redistribution
10. Health Insurance and Market Failure since Arrow–Sherry A. Glied
11. Can Efficiency in Health Care Be Left to the Market?–Uwe E. Reinhardt
12. Valuing Charity–Richard Kronick
13. Medical Service Risk and the Evolution of Provider Compensation Arrangements–Gloria J. Bazzoli
14. The Role of the Capital Markets in Restructuring Health Care–J. B. Silvers
Part 3: Information, Knowledge, and Medical Markets
15. Arrow and the Information Market Failure in Health Care: The Changing Content and Sources of Health Care Information–Deborah Haas-Wilson
16. The End of Asymmetric Information–James C. Robinson
17. Managing Uncertainty: Intermediate Organizations as Triple Agents–Lawrence Casalino
18. Moral Hazard vs. Real Hazard: Quality of Care Post-Arrow–Michael L. Millenson
Part 4: Social Norms and Professionalism
19. Arrow's Analysis of Social Institutions: Entering the Marketplace with Giving Hands?–Peter J. Hammer
20. The Market for Medical Ethics–M. Gregg Bloche
21. The Role of Nonprofits in Health Care–Jack Needleman
22. Arrow on Trust–Mark A. Hall
23. From Trust to Political Power: Interest Groups, Public Choice, and Health Care–Mark A. Peterson
24. Regulating Health Care: From Self-Regulation to Self-Regulation?–Peter D. Jacobson
25. The Lawyerization of Medicine–William M. Sage
Part 5: Response by Professor Arrow
26. Reflections on the Reflections–Kenneth J. Arrow
27. News and Notes
28. News from Affiliated Organizations
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This special issue of the Journal of Health Politics, Policy and Law centers on Nobel laureate Kenneth J. Arrow’s seminal article "Uncertainty and the Welfare Economics of Medical Care." When the essay first appeared in 1963, health economics did not exist as an established field, and there was a professional and social bias against thinking about health care in economic terms. Arrow’s trailblazing article laid the foundation for modern health economics and has guided its direction for four decades.
Now the Journal of Health Politics, Policy and Law examines this legacy, opening with a foreword by Mark V. Pauly, one of the first to publish a response to Arrow’s original article and a major voice in health economics today. A reprint of the article itself serves as a springboard from which contributors assess the accuracy of Arrow’s portrayal of the United States health care system in the early sixties and evaluate how the system has progressed since that time. The contributors to this remarkable collection include some of the most distinguished scholars in the health policy field.
Designed to be an effective reference tool, this issue sets Arrow’s original article apart from the rest by printing it on tinted paper. The contributors’ responses to Arrow are divided into four parts—Part 1: Supply, Demand, and Health Care Competition; Part 2: Risk, Insurance, and Redistribution; Part 3: Information, Knowledge, and Medical Markets; Part 4: Social Norms and Professionalism.
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