Mindscape 232 | Amy Finkelstein on Adverse Selection and Hidden Information

[@quantumcat7673]

The subject of this lecture is simply awesome! Hidden fields and things are perhaps legion. That would constitute perhaps the start of an explanation of the non local phenomenon in QM.

[@DavidMichaelKalman]

Excellent episode, although I thought there was a missed opportunity for Dr. Finkelstein to acknowledge that a system that forces everyone to buy guaranteed issue health insurance is not really insurance at all. It's a surrogate for a publicly financed system in the guise of insurance, passed into law because a more straightforward public healthcare system has not been feasible politically (and the insurance "premium" is just another kind of tax). As a stop-gap measure, it's better than nothing, but it's not insurance.

[@he1ar1]

Insurance may look like a tax from the point of view of the consumer. From the insurance market point of view, a public mandate does not change the fact that the money is going to an insurance company and a financial market the same as any other insurance. I would say that is a market but it's not a free market. You can't say no, which fundamental in freedom. So there is a need for regulation to protect consumers.

[@DavidMichaelKalman]

@@he1ar1 I see your point. The "shared risk pool" funded by the government could be viewed as insurance. However, if the private insurers in the government program bear no risk, then are they insurance providers or just bookkeepers?

[@dukeallen432]

The most efficient providers will make most money and have better pricing to attract more participants. There are risks as many healthcare providers have folded.

[@luizarthurbrito]

Amazing episode, Sean. One of the best lately. An economist who takes public policy seriously is always great to listen to.

[@dukeallen432]

One of your best guests. Break your rule and bring the Dr back.

[@seancidy6008]

This guest was very engaging and got me listening closely and stopping to go back to really understand what she had just said. No ums or ers; Amy goes so fast I -like- love the way she first checks him a bit and then when he persists brutally pulled him up at 9:31 and told him "No, that's _raising_ your expected utility".

[@vj512]

I would just like to thank you not only for the substantive quality of these interviews, but also for the quality of the microphones used. It makes a big difference 🎙️

[@bazzmond]

Great talk, thanks for posting.

[@Life_42]

I will listen to all your Mindscape episodes!

[@bennguyen1313]

On a practical note, would like to hear what type of long-term-care annuities products that Amy would recommend? And are there senior-living communities from other countries that we should model? For example, Aegis Living in Seattle / San-Antonio, Treehouse Community Village in Massachusetts versus Denmark and the Netherlands (ex. Hogeweyk Dementia Care Center in Amsterdam)... or Mexico (Chapala, Ajijic , Chipilo , San Miguel, San Miguel de Allende, Puerto Vallarta, Rosarito), or Thailand ( Chiang Mai care village, and the surrounding area , Baan Nor Lae, Martin Woodley)?

[@mekatronikmuhendisi9379]

Sean carroll ! I from turkey . thanks for everything.

[@bjpafa2293]

Interesting, perspective. Thank you so much for your Art.

[@timlyons2824]

Your next guest should be Peter Attia MD who writes on the Science and Art of Longevity

[@bjpafa2293]

Respect, always, thank you. 🙏

[@donaldjmccann]

Tesla offers insurance to drivers of their cars. They know everything about how you drive, and can therefore offer lower rates.

[@bjpafa2293]

Like death ☠, property, funeral, remember those who sold funerals to old black ladies, widows, grandparents, all around the fifties, sixties...buried as indigents. The pile of the dispossessed, India, Ursula le Guin... Health Insurance: the way you can loose two times. Car insurance, you get paid once... Damage insurance : cannot prove causal relation. FIRE insurance: cannot prove content, or are accused of being the author. That's a general profile. Loysd's reinsurance, only when ships don't sink much... Assuranci Generalli: you give what you shouldn't to receive fintech's uncertainty principle. Futures😅 Crypto🤔 Tresor bonds... Money 💵 under the matress... Fitzgerald's Law?

[@goldwhitedragon]

No relation to Norman Finkelstein?

[@jonathanbyrdmusic]

People who have health insurance go to the doctor more? You don’t say.

[@m.branson4785]

Only halfway through, but a lot of this conversation bothers me - maybe a visceral reaction from my own past poverty. The situations for uninsured poor people are such that they don't really ever get to make healthcare decisions, and so analyzing their behavior when suddenly being given insurance is just messier than she's describing. There's a lot more going on here than price-points. These aren't rational actors in an understood economic model. They're more like torture victims gasping for air.

[@bjpafa2293]

Yes, Robespierre, Marat, Danton, a charm of security and predictable behavior, inSurance your head. It will be send in a box to the wrong address?

[@quantumcat7673]

If insurance market fail, why in the whole world there are so many companies then? That's because it is lucrative and it works!!! If it didn't they would all be bankrupt! Really bad example Sean!!!

[@leeFbeatz]

❤

[@PicaMula]

Sure should give healthcare. As a Brazilian, we do have universal healthcare and it is quite good free treatment. Is a 3rd world country can do it, you surely can. Well I guess we don't spend nearly as much on military stuff XD

[@soniahazy4880]

🌈🛸🧞‍♀️💎🪷🧩