Unbiased Analysis of Today's Healthcare Issues

Archive for the 'Economics – General' Category

Is P4P doomed to fail?

There have been many pay-for-performance (P4P) programs that have been implemented to attempt to improve quality and reduce cost. The vast majority of these programs have not been able to demonstrate large or even any improvement in quality or cost. Some researchers claim that these programs have not worked due to the size of the […]

Read the rest of this entry »

Is Finland ending welfare?

Maybe yes.  According to City Journal: This year, the Finnish government hopes to begin granting every adult citizen a monthly allowance of €800 (roughly $900). Whether rich or poor, each citizen will be free to use the money as he or she sees fit. The idea is that people are responsible for their actions. If […]

Read the rest of this entry »

Temptation Goods

Your annual salary clearly affects how much you spend on different goods and services.  However, does the frequency with which you are paid affect the composition of goods you purchase?  For instance, do individuals paid on a weekly basis differ than those paid on a monthly basis? If people are perfectly rational–ignoring any small differences due […]

Read the rest of this entry »

Is Economics a Science?

That is the question addressed by in a paper by Colin Camerer and co-authors in Science. The authors repeated 18 economics experiments conducted in a laboratory setting. These articles were published in leading economics journals including the American Economic Review and the Quarterly Journal of Economics between 2011 and 2014. As The Economist reports, they […]

Read the rest of this entry »

Efficacy vs. Effectiveness vs. Efficiency

Efficacy describes the technical relationship between the technology and its effects (whether it actually works), whereas effectiveness concerns the extent to which application of an efficacious technology brings about desired effects (changes in diagnoses, altered management plans, improvement in health)…Efficiency is an economic concept which relates efficacy and effectivness to resource use.  Assessment of efficiency is […]

Read the rest of this entry »

Economists’ Declaration

In September 2015, 267 economists from 44 countries, led by Lawrence H. Summers of Harvard University, signed the Economists Declaration on Universal Health Coverage, which calls on global policymakers to prioritize a pro-poor pathway to universal health coverage as an essential pillar of sustainable development.  The full text is here.  An excerpt is below: Universal […]

Read the rest of this entry »

How much are you willing to pay to live an extra year? (Part II)

In a previous post in 2014, I examined a systematic literature review of individual willingness to pay for an extra life year.  That study found that individuals were willing to pay 118,839 EUR 2010 on average (equivalent to $142,762.92 USD in 2015 USD). The median WTP however, is only 24,226 EUR (or $29,100 in 2015 USD). […]

Read the rest of this entry »

Angus Deaton wins nobel prize in economics

You can find the Nobel website press release here: The work for which Deaton is now being honored revolves around three central questions: How do consumers distribute their spending among different goods?Answering this question is not only necessary for explaining and forecasting actual consumption patterns, but also crucial in evaluating how policy reforms, like changes […]

Read the rest of this entry »

Why research in health economics is particularly interesting

The Federal Reserve Bank of Minneapolis has a long but very interesting interview with Amy Finkelstein, one of the preeminent health economist of our time.    The interview covers a number of topics including the correlation between adverse selection and risk aversion, annuity markets, geographic variation in health care spending, the Oregon Health Insurance Experiment, and […]

Read the rest of this entry »

Vertical Integration

30 Rock has a clever explanation for the benefits and perils of vertical integration.  Enjoy.   HT: Leemore Dafny during her presentation at USC Schaeffer School.  

Read the rest of this entry »