The placebo effect and the biological basis for it is absolutely being seriously studied. You might be interested in the work of Ted Kaptchuk and Kathryn Hall

The placebo effect and the biological basis for it is absolutely being seriously studied. You might be interested in the work of Ted Kaptchuk and Kathryn Hall [1], for example. (Kaptchuk is a trained acupuncturist with a degree in Chinese medicine, but basically re-educated himself in western medicine, and is a highly regarded scientist.) One of their insights is that placebo effect comes from neural modulation of pain receptors, and that the placebo effect has specific limitations. For example, the placebo effect cannot cure cancer or make a cold go away, but it can lessen pain and reduce inflammation through hormone signaling. [1] https://www.harvardmagazine.com/node/39354 https://www.harvardmagazine.com/node/39354