Economics Behaving Badly
George Loewenstein and I have an Op-Ed in the New York Times today. Check it out, and feel free to add your comments.
George Loewenstein and I have an Op-Ed in the New York Times today. Check it out, and feel free to add your comments.
See a video where I talk to my twelve year old son about health insurance, unrehearsed, and try to see whether he will be able to figure out the importance of the health insurance mandate. I think you will agree that this is an idea even a sixth grader can understand. Which is sad, because most people hold a strong opinion about this topic without grasping even it’s most basic strengths and weaknesses.
Now if the Obama team will work on helping American adults understand the benefits of getting everyone to get insurance!
A song comes through your earbuds: good rhythm, clever lyrics, pleasing melody. You know whether you like the song, right? Maybe not. A series of studies using brain imaging raise the possibility that sometimes we think we like or dislike things, but our brains know better. I will explain what I mean, by describing one of…
It was 93 degrees and humid. Jimmy Lawrence put his first five quarters into the vending machine and selected a Coke. The machine refused to give him his beverage. Because the temperature was more than 90 degrees, the computer program within the vending machine had raised the price to $1.50. Is that fair pricing? …(Read…
Insurers can use behavioral economics, which examines why people make certain decisions and then determines how to influence said decisions, to compel members to improve their health, according to research from the Robert Wood Johnson Foundation. “I don’t think there’s any question that behavioral economics approaches have a lot of potential to contribute to healthcare,”…
In an earlier post, I wrote about the dietary supplements industry, which is largely unregulated by the FDA, to the detriment of the American consumer. Well here is a recent news story showing how a company is looking to take advantage of this lack of regulation: An anti-aging pill that is backed by five Nobel…
Despite Barack Obama’s recent surge in the polls, much could change between now and election day. While it looks like this election will be decided by the economy, unexpected events could dramatically change the campaign narrative. Terrorists could conduct an attack inside the US. Obama, despite his two years of steady poise, could say something…