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December 15, 2014

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Oh Mark, you cannot possibly be serious!

"If ... health care decisions were left in the hands of doctors, patients, and insurance companies ... these parties together could use cost effectiveness numbers in a way that worked with each patients based on his or her interests, coverage, and resources."

I love it!

It's so refreshing to (virtually) meet someone whose insurance company works with him based on his interest! Tell us, Professor White, with which insurance company are you an executive?

Since you're the professor and I'm only a humble economist, perhaps you could explain how a 'free market' for health insurance manages to avoid becoming a market for lemons.

Thanks, Jonas, but I think you're reading too much into what I wrote. I harbor no illusions regarding the interests and motivations of insurance companies (or, in some cases, doctors). Insurance companies set boundaries (or constraints), along with patients' personal resources, within which patients and their confederates can make decisions. My point was simply that with more individual control over health care decisions and the use of cost effectiveness data, patients are more able to make decisions that further their interests within constraints that are not necessarily imposed in a one-size-fits-all manner. (Patients did not always have much choice regarding insurance plans and coverage in the past, but they could not have less than under a governmentally standardized system).

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OUR BOOKS
Accepting the Invisible Hand: Market-Based Approaches to Social-Economic Problems, Mark D. White (ed)

Beyond Social Capital: A Critical Approach, Irene van Stavern and Peter Knorringa (eds)

Economics and the Mind, Barbara Montero and Mark D. White (eds)

Ethics and Economics: New Perspectives, Mark D. White and Irene van Staveren (eds)

Ethics in Economics: An Introduction to Moral Frameworks, Jonathan B. Wight

The Feminist Economics of Trade, Irene van Staveren et al (eds)

Handbook of Economics and Ethics, Jan Peil and Irene van Staveren (eds)

The Illusion of Well-Being: Economic Policymaking Based on Respect and Responsiveness, Mark D. White

Kantian Ethics and Economics: Autonomy, Dignity, and Character, Mark D. White

Law and Social Economics: Essays in Ethical Values for Theory, Practice, and Policy, Mark D. White (ed.)

The Manipulation of Choice: Ethics and Libertarian Paternalism, Mark D. White

Retributivism: Essays on Theory and Policy, Mark D. White (ed.)

Saving Adam Smith: A Tale of Wealth, Transformation, and Virtue, Jonathan B. Wight

Street Porter and the Philosopher: Conversations on Analytical Egalitarianism, Sandra J. Peart and David M. Levy (eds)

Teaching the Ethical Foundations of Economics, Jonathan B. Wight and John S. Morton et al

Theoretical Foundations of Law and Economics, Mark D. White (ed.)

The Thief of Time: Philosophical Essays on Procrastination, Chrisoula Andreou and Mark D. White (eds)

The Values of Economics: An Aristotelian Perspective, Irene van Staveren

The Vanity of the Philosopher: From Equality to Hierarchy in Postclassical Economics, Sandra J. Peart and David M. Levy