Investigators at University of New South Wales Report Findings in Insurance (Can Network Analysis Identify Market Problems In Quasi-markets? a Proof-of-concept Study On the National Disability Insurance Scheme): Insurance

2023 NOV 20 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on Insurance have been presented. According to news originating from Sydney, Australia, by NewsRx correspondents, research stated, “The use of markets has a long history in the delivery of social services. Market-based arrangements are used worldwide with the goal of increasing choice, efficiency, and cost effectiveness in public service delivery.”

Financial supporters for this research include Open access publishing facilitated by University of New South Wales, as part of the Wiley - University of New South Wales agreement via the Council of Australian University Librarians., University of New South Wales, as part of the Wiley - University of New South Wales agreement via the Council of Australian University Librarians.

Our news journalists obtained a quote from the research from the University of New South Wales, “However, government-run markets or ‘quasi-markets’ do not behave as regular markets and therefore require interventions and stewardship in order to function efficiently and meet the social goals they aim to achieve. We assess the usefulness of functional network analysis (FNA) (a form of social network analysis) for identifying market gaps and market failure in quasi-markets to assist governments in their stewardship roles. We test the utility of this approach within an Australian quasimarket for disability services, where data were collected via surveys with disability providers in two case study sites. In this proof-of-concept study, data were analysed using FNA techniques. We find that FNA techniques can generate insights to identify quasi-market problems.”

According to the news editors, the research concluded: “We find that FNA can be augmented with organisational characteristics such as size, profit margin, and ‘for profit’ status, enabling evaluation of the potential risks occurring within a particular quasi-market structure.”

This research has been peer-reviewed.

For more information on this research see: Can Network Analysis Identify Market Problems In Quasi-markets? a Proof-of-concept Study On the National Disability Insurance Scheme. Australian Journal of Public Administration, 2023. Australian Journal of Public Administration can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Wiley-Blackwell - http://www.wiley.com/; Australian Journal of Public Administration - http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-8500)

The news correspondents report that additional information may be obtained from Eleanor Malbon, University of New South Wales, Publ Serv Res Grp, Sydney, Nsw, Australia. Additional authors for this research include Damon Alexander, Gemma Carey, Helen Dickinson, Satish Chand, David Gilchrist, Gordon Duff and Anne Kavanagh.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/1467-8500.12608. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

(Our reports deliver fact-based news of research and discoveries from around the world.)