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)
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…
Behavioral science has taught me that subtle environmental cues can have a surprisingly strong influence on people. I don’t know if the following cue was purposeful or not, but the relative size of these two receptacles – the blue one being the recycling one of course – definitely sends a strong signal about how much…
Dick Thaler, an economist who helped create the field of behavioral economics, came up with a wonderful idea a long time ago to promote retirement savings, a plan he calls Save More Tomorrow. Among the many clever aspects of his plan is the idea of automatic escalation of people’s retirement contributions. Think of the idea…
The US is rapidly becoming a high out-of-pocket healthcare system, often with disastrous results.
There’s lots to love about American healthcare. We have some of the best clinicians in the world, as evidenced by the huge number of people who come to the U.S. from other countries when they are sick. Yet the American people are less satisfied with their healthcare system than are citizens of the majority of…
In a clever study, secret shoppers called primary care offices in an attempt to make a new patient appointment. People with Obamacare insurance, or “marketplace plans” in the below figure, had a hard time finding appointments. But so did people with traditional insurance. But there’s a bigger takeaway, one slightly obscured by the misleading y-axis,…