Yes I was struck by that

Flavius — Mon, 23 Jan 2012 16:48:06 +0000

Yes I was struck by that too.

I had hoped I'd come on statements that caused me to nod my head and say "ah, now it all becomes clear". That didn't happen.. Which caused me to think : what's the big deal about Arrow's paper anyway?. Maybe it's the accumulation of such insights.

One that interested me was the one where Arrow says

o Since the patient can't know what the doc knows, he has to trust him

o But that means he has to feel like the doc isn't screwing him economically

o so the doc has to avoid looking like he is profit maximizing, he can't just charge whatever the market will bear.

Anyway if I had it to do over, I wouldn't.But at least now I don't think that maybe there's some great source of wisdom somewhere on health care..

Thanks for wading through

Verified Atheist — Mon, 23 Jan 2012 16:35:54 +0000

In reply to That invisible hand's not holding a bandage

Thanks for wading through this, Flavius. If I had to pick the one bit that resonated the most with me, it'd be this part:

When there is uncertainty, information or knowledge becomes a commodity, but the demand for information is difficult to discuss in …rational terms….The value...is frequently not known …to the buyer; if he knew enough to measure the value…he would know the information itself…..But information, in the form of skilled care, is precisely what is being bought from most physicians…..The elusive character of information….suggests that it departs from the usual

dagblog - Comments for "That invisible hand's not holding a bandage"

Yes I was struck by that

Thanks for wading through