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Carnegie Mellon Heinz School Policy Management Information Technology
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Martin Gaynor 

Martin Gaynor 

E.J. Barone Professor of Economics and Health Policy
PhD, Economics, Northwestern University


Professor Gaynor's research focuses on competition in health care markets and on the role of incentive structures within health care. This is being investigated within the context of the current rapidly changing structure of health care markets, with implications for appropriate antitrust and regulatory policy in this area.

Selected Publications

“Competition Among Hospitals,” with William B. Vogt, Rand Journal of Economics, Winter 2003, 34, 4, 764-785.

“Physician Incentives in HMOs,” with James B. Rebitzer and Lowell J. Taylor, Journal of Political Economy, August 2004, forthcoming.

"Are Invisible Hands Good Hands? Moral Hazard, Competition, and the 2nd Best in Health Care Markets," with Deborah Haas-Wilson and William B. Vogt, Journal of Political Economy, October 2000, 108, 5, 992-1005.

"Antitrust and Competition in Health Care Markets" (with William B. Vogt), Handbook of Health Economics, (Anthony J. Culyer and Joseph P. Newhouse, eds.), Amsterdam: North-Holland, 2000.

"Enter at Your Own Risk: HMO Participation and Enrollment in the Medicare Risk Market," with Jean Abraham, Ashish Arora, and Douglas Wholey, Economic Inquiry, July 2000, 38, 3, 385-401.

"Change, Consolidation, and Competition in Health Care Markets" (with Deborah Haas-Wilson), Journal of Economic Perspectives, Vol. 13, No. 1, pp. 141-164, Winter 1999.

"Moral Hazard and Risk Spreading in Medical Partnerships," with Paul J. Gertler, Rand Journal of Economics, Winter 1995, 26, 4, 591-613.

"Uncertain Demand, the Structure of Hospital Costs, and the Cost of Empty Hospital Beds," with Gerard F. Anderson, Journal of Health Economics, August 1995, 14, 3, 291-317.

"Issues in the Industrial Organization of the Market for Physician Services," Journal of Economics and Management Strategy, Spring 1994, 39, 1, 211-255.

"Equilibrium Misperceptions," with Paul R. Kleindorfer, Economics Letters, January 1991, 35:1, 27-30.

"Compensation and Productive Efficiency in Partnerships: Evidence from Medical Group Practice," with Mark V. Pauly, Journal of Political Economy, June 1990, 98:33, 544-573.

"Competition within the Firm: Theory Plus Some Evidence from Medical Group Practice," Rand Journal of Economics, Spring 1989, 20:1, 59-76.

Click here for a listing of current Working Papers authored by Professor Gaynor.

Professional Experience

Professor Gaynor is a research associate of the National Bureau of Economic Research in Cambridge, Massachusetts and the Centre for Market and Public Organisation at the University of Bristol in the United Kingdom. Prior to coming to Carnegie Mellon, he was on the faculty of Johns Hopkins University. He has also taught at a number of other universities and was a visitor at the Institute of Economics of the Hungarian Academy of Sciences in Budapest, Hungary in 1991.

Professional Impact

Professor Gaynor has served as a consultant to the Federal Trade Commission, U.S. Department of Justice, and the California Department of Corporations on antitrust issues. He has given testimony before the Federal Trade Commission and U.S. Department of Justice and the California State Senate and has participated in briefings for U.S. House of Representatives Staff. Professor Gaynor also serves on the editorial boards of the American Economic Review, Health Services Research, the International Journal of Health Care Finance and Economics, RandForums for Health Economics and Policy, Health Economics, Policy, and Law, and edited a symposium on incentives and competition in health care markets for the Rand Journal of Economics. He is a referee for numerous professional journals, and works with the National Science Foundation, Agency for Health Care Policy Research, National Institute of Mental Health, National Institute on Drug Abuse, Veterans Administration and National Endowment for the Humanities as an ad hoc grant reviewer.

Honors and Awards

Professor Gaynor is listed among the top 1,000 economists in the world and in Who's Who in America. He received the Kenneth J. Arrow Award for best published paper in health economics worldwide in 1995. He is a 1995 recipient of a Robert Wood Johnson Fellowship for research on antitrust and competition in health care markets. He also delivered the R. Allen Moran Memorial Lecture at Lehigh University in 1992, and received the FIRST Award (First Independent Research Support and Transition) given by the National Institute of Mental Health, 1990-1993.


Professor Gaynor received his bachelor of arts degree in economics from the University of California, San Diego, in 1977, a master of arts in economics from Northwestern in 1979 and a PhD in economics from Northwestern in 1983.

WWW Resources

Professor Gaynor's personal web site can be found at

For information on research and education in health economics at Carnegie Mellon see the health economics overview.