ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax


it's also about what's better: see buzzword "evidence-based medecine", as there is:
(a) too much tradition and too little science in the practice of medecine, and
(b) too little continuing training of doctors.
Perhaps two new psychiatric diagnostic categories should be added:
1. Antipsychiatric personality disorder: persons who believe and vehemently argue that modern psychiatry is all wrong and use very selective examination of evidence to support that view.
2. Narcissistic personality disorder, behavioral economist variant: persons who believe against all logic and observation that all behavior has an economic basis.
I have to say that I find papers such as yours very strange. Not knowing the field, I cannot tell if it is a "gotcha" paper (a refereed journal published this bizarre discourse on economics and extreme preferences among crazy persons), a parody of what other economists have published, a way of blasting Szasz, or something else.
You know who doesn't lack information about which procedures are most cost-effective? Insurance companies.
They have data on millions of people, billions of procedures and tests, exact costs on all of those, sequence data on what order the tests were performed in, what the eventual and final diagnosis was on the basis of those tests, and what the life expectancy was for each person given a certain basket of prior conditions and proactive treatments.
If the government forced insurance companies to anonymize and publish all of this data for the Army of Davids to analyze, imagine what the data mining might find....
Imagine what a single knowledgeable data mining expert might find with that data in a single week...