From my list on the economics and history of American health insurance.
Why am I passionate about this?
My mother wanted me to be a physician, but as a child I was very squeamish about human biology and knew that wasn't for me. In college I was exposed to economics and found it, and the policy debates about national health insurance, fascinating. So, maybe with my mother’s wishes in the back of my mind, I became a health economist. I was privileged to direct a large randomized trial called the RAND Health Insurance Experiment, which varied the cost of medical care to families. This project lasted more than a decade and got me so deep into the economics of health and medical care that I became a professor of health policy and management.
Joseph's book list on the economics and history of American health insurance
Why did Joseph love this book?
This book, by three eminent economists who themselves have advanced the theory of insurance markets, describes in non-technical terms exactly what its title promises, why insurance markets fail.
In other words, it describes why public intervention is necessary to make insurance function well. The public intervention can take many forms, ranging from subsidies to national health services, but no industrialized country leaves health insurance entirely to a private market.
1 author picked Risky Business as one of their favorite books, and they share why you should read it.
An engaging and accessible examination of what ails insurance markets-and what to do about it-by three leading economists
Why is dental insurance so crummy? Why is pet insurance so expensive? Why does your auto insurer ask for your credit score? The answer to these questions lies in understanding how insurance works. Unlike the market for other goods and services-for instance, a grocer who doesn't care who buys the store's broccoli or carrots-insurance providers are more careful in choosing their customers, because some are more expensive than others.
Unraveling the mysteries of insurance markets, Liran Einav, Amy Finkelstein, and Ray Fisman…