Unhealthy markets: financial crisis, fiscal crisis ... health care crisis?

摘要

The worldwide crisis in financial markets, and the recessionnor depression that it has triggered, may have significantnconsequences for health care finance. But it alsonexposes a deep parallel between finance and healthncare: both depend upon institutions capable of managingnopportunistic behaviour in a context of asymmetricninformation.nThe meltdown was not caused by excessive greed.nGreed and fear are the primary drivers of all financialnmarkets. Opportunistic behaviour, the more wellinformedntaking advantage of the less, goes with the territory.nRegulations can impose basic reporting requirementsnand (sometimes) detect and discourage morenegregious frauds. [Bernie Ebbers, please welcome BernienMadoff.] Beyond that, caveat emptor. In practice, thenbuyers act upon a variable mix of information and considerablentrust.