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Hospital Pricing and Irrational Thinking
ByadminThe gynecologist made several incisions and inserted the laparoscope. With the help of her surgical team of nurses, students and anesthesiologists, she removed the patient’s uterus, which had been bleeding uncontrollably for the past six months despite aggressive medical therapy. The price tag of the procedure? Around $6,000. Meanwhile in a nearby hospital, another gynecologist…
A Magician's Eye for Consumer Scams
ByadminOne of the themes running through Fooling Houdini that I like the most was the strong connection that Stone made between magic, con artistry, and even common business practices. Magicians have long been known for their ability to spot scams. After all, their profession is based on developing the ability to fool people. That is…
‘Immunity passports’ could be doomed by false-positive antibody tests (Washington Post)
BypeterAntibody testing has accelerated in the United States in recent weeks: In one prominent study, for example, involving some 3,000 New Yorkers, roughly 14 percent of state residents were found to have been exposed to the virus — and 1 in 5 in New York City. Some proponents of such tests believe they could pave…
How Money Makes Us Behave (The Good and Bad)
ByadminMoney can undermine our morals. If you don’t believe me, look what happened to a group of four-through-six-year-olds who were brought in for a simple experiment. Researchers asked them to sort objects from a box. Half sorted coins, and half sorted buttons. Then they were asked to do one more thing–try to find their way…
Duke "Office Hours" webcast
ByadminCheck out my recent webcast interview with Duke University “Office Hours”
The Ulysses Strategy
ByadminAs the University of Chicago economist Richard Thaler tells the story, a group of fellow-graduate students in economics were at his house one night in the late nineteen-seventies, socializing before the dinner hour. Thaler saw how much they were snacking, and decided to remove the nut bowls from the living room. His colleagues—almost all of whom…

