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The problem isn't that demand is insatiable for all people. Economists assume that every individual's demand is insatiable for ... dubious reasons. I think it'
by wisty 14y ago
The problem isn't that demand is insatiable for all people. Economists assume that every individual's demand is insatiable for ... dubious reasons.
I think it's more the "80/20" customers - old people who are bored. Drug addicts begging for pain killers. Hypochondriacs. People who have done their own diagnosis and want the doctor to give them their antibiotics (when it's really a common cold, and antibiotics won't help). There's a common meme on HN that free services attract bad customers.
- sseveran 14y agoThe RAND study on health insurance and healthcare consumption showed that healthcare is indeed an elastic product.