A while back, DVD companies hoping to sell their products in countries like Poland faced a dilemma. They could sell their products at a nice profit in the booming U.S. market, but to sell products in those other countries, they had to lower their prices. Such variable pricing is a common business practice. All kinds of services…
For years now, the pharmaceutical industry has justified its prices and its profits by reminding us that their products eventually go off patent, and are then offered cheaply to people around the world in generic form. They warned us that the pipeline for new and innovative drugs is less and less promising, because so many…
When people mention Bayes’ Theorem, the cornerstone of much of modern probability thinking, most do not realize that much of the thinking to develop this theorem was done by Pierre-Simon Laplace, a French astronomer and mathematician. As if his work on that theorem was not enough to make him one of my heroes, I recently…
A recent story on the Atlantic website described a clever way to demonstrate the benefits of bicycling in congested cities. It involves an app that quickly shows people how long it will take to get somewhere by bicycle versus car. And with the crowded cities, bicycles more than hold their own, as this picture shows: And…
I thought I would pass along this hilarious cartoon, suggesting a new way to “nudge” patients to use fewer antibiotics. Of course that nudge requires your doctor to be Batman, and Batman to be a pretty assertive type of physician: (Click here to view comments)
I recently opened up a mysterious package that arrived at my front door, and discovered the German edition of Critical Decisions. At first I assume the title was somehow referring to me as a gutter rat, or signifying that my book was the kind of thing you can find in a sewer. But now I…
I have been writing a fair amount lately about the out-of-pocket costs that many Americans face when they receive healthcare services. A new report by The Commonwealth Fund provides a picture of the scope of this issue. It compares the US to 10 other developed countries, and shows not only that people in the US spend…
This summer I had the pleasure of speaking with a very intelligent journalist, who was working on an article about overtreatment in medical care. That article has just come out, and I thought I would give you a sample of it here: A few months ago, I went to my gynecologist looking for help with a…
Obamacare has come under intense criticism for harming businesses, which will see their employee costs rise as a result of the ACA employer mandate. A recent New York Times article reported that complying with Obamacare regulations would “cost about $1 per hour per employee” for agricultural companies paying people to work in the fields. That is a…
Whether you believe in God or not, belong to a specific faith or not, it is hard to deny the logic of the following statement: “All those religions. They can’t all be right. But they can all be wrong.” – Anonymous member of utopian Zoar community, on her deathbed. (Click here to view comments)