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The difference between the actual payment and the medical staff's minimum expected amount represents 'patient's ignorance'.
However, in the absence of perfect information, patients may end up paying higher amounts than the minimum expected amount.
The information that each party has on the other's minimum expected amount or maximum willingness to pay influences the actual amount paid.
We found that medical staff has less information on the patient's maximum willingness to pay informally than patients have on medical staff's minimum expected amount.
Our results show that medical staff has less information on the patients' maximum willingness to pay informally than patients have on medical staff's minimum expected amount.
In this paper, we have shown that the actual amount paid informally to medical staff is influenced by imperfect information that patients and medical staff have on each other maximum willingness to pay or minimum expected amount.
Similar(51)
Expected amount of variation.
They could try to seek good quality medical staff and pay just the 'minimum expected amount' for a particular service.
Minimum expected sales quantity of buyer j.
Splitting off the wholesale unit would be the minimum expected".
The minimum expected count is.06.06
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com