RT Journal Article
SR Electronic
T1 Specialty Selection and Lifetime Returns to Specialization Within Medicine
JF Journal of Human Resources
JO J Hum Resour
FD University of Wisconsin Press
SP 115
OP 143
DO 10.3368/jhr.XL.1.115
VO XL
IS 1
A1 Bhattacharya, Jayanta
YR 2005
UL http://jhr.uwpress.org/content/XL/1/115.abstract
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.