Tag Archives: placebo

Markets where the drugs don’t work

Yesterday I found a good excuse to post a quote from Frasier in discussing how high price increases the placebo effect – because people use it as a signal of high quality in choosing particular health treatments. The problem is that price … Continue reading

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Frasier and Niles and placebos

… or a good excuse for Five Minute Economist to dig out some quotes from a comedy classic. Healthcare works differently from most markets in many ways. Apart from anything else, it’s an experience good, which means that it’s hard … Continue reading

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Why Ronaldo pays too much for his rubber bands

A classic placebo story from the world of sport today. Clearly on the cusp of taking over our school playgrounds is the rubber band with a hologram which sports stars are claiming increases their balance strength and agility. Something to … Continue reading

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