Unbiased Analysis of Today's Healthcare Issues

Archive for the 'Economics – General' Category

Is more income equality a good thing?

This is a normative question.  Some people would prefer a society with more income re-distribution.  More income re-distribution is “fairer” in the sense that fewer people would suffer from a low standard of living.  Most societies (and individual humans) place at least a some value in insuring that the worst off amongst us have some resources at their […]

Read the rest of this entry »

Will federal government spending be captured by the elderly?

According to a January 2017 report from the Congressional Budget Office (CBO), spending on entitlement programs for the elderly is the primary factor driving increased budget deficets over the next 10 years.  The CBO states: Outlays rise faster than revenues—by about 5 percent a year, on average—increasing from 20.7 percent of GDP in 2017 to […]

Read the rest of this entry »

Bengt Holmström’s Nobel Prize Lecture

Nobel Prize winner Bengt Holmström talks about the pros and cons of  pay-for-performance.  Interesting throughout.

Read the rest of this entry »

The Benefits and Perils of Free Trade

Russ Roberts has a great example demonstrating the benefits and perils of free trade with a health care example. Suppose a scientist invents a pill that once you take it lets you live until 120 with no health issues whatsoever. Once you turn 120, you die a peaceful death on your birthday. Suppose the scientist, […]

Read the rest of this entry »

2016 Nobel Prize in Economics goes to…

…Oliver Hart and Bengt Holmström for their research on contract theory. One of my favorite papers in all of economics is Holmstrom and Milgrom’s 1991 paper titled “Multitask Principal-Agent Analyses: Incentive Contracts, Asset Ownership, and Job Design.”  In a world where health care is increasingly moving to value-based payment, payers (i.e., insurance companies, employers, and the government) are increasingly […]

Read the rest of this entry »

Economic Dimensions of Personalized and Precision Medicine

I am attending a National Bureau of Economic Research (NBER) Pre-Conference on Economic Dimensions of Personalized and Precision Medicine. You can find the meeting agenda here. The speakers today were very interesting and touched on a number of topics with respect to precision medicine including: Measuring the value of a precision medicine diagnostic test Determining […]

Read the rest of this entry »

Useful mental models

Gabriel Weinberg, CEO of DuckDuckGo, has a list of mental models that he believes “come up repeatedly in day-to-day decision making, problem solving, and truth seeking.”   Many are from the world of economics, but I focus on non-economic models as well.  I organzie them into categories based on how Weinberg did in his post. I have […]

Read the rest of this entry »

The coming U.S. debt crisis

The Congressional Budget Office provides some gloomy news on the fiscal health of the federal government in their recent 2016 Long Term Budget Outlook.  They state: If current laws governing taxes and spending did not change, the United States would face steadily increasing federal budget deficits and debt over the next 30 years, according to projections […]

Read the rest of this entry »

Quality of Life and Prospect Theory

Prospect theory states that individuals view transactions relative to a fixed reference point.  Individuals are risk averse for gains (i.e., they would prefer $10 for sure over a 50/50 of winning $0 or $20) but risk loving over losses (i.e., they would prefer a 50/50 ‘lottery’ of losing $0 or $20 over a sure loss of $10. […]

Read the rest of this entry »

John Oliver on Retirement Plans

Enjoy  

Read the rest of this entry »