Is Health Insurance Too Cheap?
Researchers at USC recently published a study designed to find out how much people are willing to pay for better drug coverage from their health insurance plan…(Read the rest and view comments at Scientocracy)
Researchers at USC recently published a study designed to find out how much people are willing to pay for better drug coverage from their health insurance plan…(Read the rest and view comments at Scientocracy)
Imagine you are a small business owner deciding whether to hire two new employees, your 50th and 51st workers respectively. Would you hire them knowing that, by surpassing the magic number 50, you will now be obligated under Obamacare to pay a penalty unless you offer all your employees affordable healthcare insurance? Imagine you are owner of…
During a break between classes, I offered some MBA students the chance to make a little extra money. Some would have a job of sitting in the classroom for five minutes doing nothing, absolutely nothing – no reading, no listening to music; just staring straight ahead. For this effortless job, they would receive $2.50. Others…
Would you rather experience a bad situation forever or for just six months? Any sane person would choose the temporary situation. And yet, according to a study I published this week, if you chose the temporary situation, you’d be more likely to suffer over the next six months-so focused on the hope that your situation…
So many books, so little time. I am 47 years old. Assuming, in a near best case scenario, that I live 40 more years, and that I read around one book per week the rest of my life, I will finish 2,000 more books before I die. That’s a lot of verbiage. But think about…
I teach a course on consumer irrationality and market failure at the Fuqua School of Business. I open up one of my lectures with a brief video demonstration of what psychologists call “the McGurk effect.” (See an example here.) In the video, a man makes the sound “ba ba ba.” About half of my students invariably identify…
Parole boards are supposed to objectively assess whether inmates eligible for parole deserve to be released from prison before the end of their sentence. They need to determine whether people are reformed, whether they have been behaving themselves in prison, and whether they pose unacceptable risks to society. But it turns out their decisions may…