3 ms·
> I don't know why that effect is not present now Inelastic demand. Whether you have a debilitating/life-threatening illness, or are worried whether the lump i
by zbentley 8y ago
> I don't know why that effect is not present now
Inelastic demand. Whether you have a debilitating/life-threatening illness, or are worried whether the lump in your throat is heartburn or the cancer that'll end your life, your incentive to engage with competing market presences is massively diminished for several reasons (urgency, many people have a desire for their life-or-death decisions not to be commoditized, etc.).
- mac01021 8y agoThat explains why people don't shop around for health care. But it doesn't explain why they won't shop around for health insurance.