PT  - JOURNAL ARTICLE
AU  - Bhattacharya, Jayanta
TI  - Specialty Selection and Lifetime Returns to Specialization Within Medicine
AID  - 10.3368/jhr.XL.1.115
DP  - 2005 Jan 01
TA  - Journal of Human Resources
PG  - 115--143
VI  - XL
IP  - 1
4099  - http://jhr.uwpress.org/content/XL/1/115.short
4100  - http://jhr.uwpress.org/content/XL/1/115.full
SO  - J Hum Resour2005 Jan 01; XL
AB  - In 1995, the average American surgeon earned over $269,000 while family practice doctors earned $131,200. Using data from the Survey of Young Physicians and the American Medical Association’s Socio-Economic Monitoring Survey, I find that only half of income differences between generalists and specialists can be explained by hours of work, residency training length, and observed and unobserved ability differences—the three competitive market explanations for differences in doctors’ incomes across specialties. The most likely explanation for the remaining income differences is differential entry barriers across specialties.