EclectEcon

Economics and the mid-life crisis have much in common: Both dwell on foregone opportunities

C'est la vie; c'est la guerre; c'est la pomme de terre                                     A View from/of the Econochasm by John Palmer

Richard Posner deserves the next Nobel Prize in Economics
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Health Care Economics
BenS sent me this:
Two patients limp into two different medical clinics
with the same complaint:

Both have trouble walking
and appear to require a hip replacement.

The first patient is examined within the hour, is
x-rayed the same day and has a time booked for
surgery the following week.

The second sees his family doctor after waiting a
week for an appointment, then waits eight weeks to see a
specialist, then gets an x-ray, which isn't reviewed
for another week, and finally has his surgery
scheduled for six weeks from then.

Why the different treatment for the two patients?

The first is a golden retriever.
The second is a senior citizen.
Of course if this had happened in Canada, the senior citizen would still be waiting...

Update: Former student, Mike Moffat has some issues with this, but I disagreed with him in the comments to his posting. He extrapolates from one scenario to claim that the price elasticity of demand is low, and he implicitly assumes a low price elasticity of supply.
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