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Better Health Economics: An Introduction for Everyone
An ideal entry point into health economics for everyone from aspiring economists to healthcare professionals. The economics of healthcare are messy. For most consumers, there’s little control over costs or services. Sometimes doctors are paid a lot; other times they aren’t paid at all. Insurance and drug companies are evil, except when they’re not. If economics is the study of market efficiency, how do we make sense of this? Better Health Economics is a warts-and-all introduction to a field that is more exceptions than rules. Economists Tal Gross and Matthew J. Notowidigdo offer readers an accessible primer on the field’s essential concepts, a review of the latest research, and a framework for thinking about this increasingly imperfect market. A love letter to a traditionally unlovable topic, Better Health Economics provides an ideal entry point for students in social science, business, public policy, and healthcare. It’s a reminder that healthcare may be a failed market—but it’s our failed market.
- GenresEconomics
249 pages, Paperback
Published January 9, 2024
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Displaying 1 - 3 of 3 reviews
January 20, 2024
A brief, wide-ranging, well-written overview of modern empirical health economics. It covers basic topics in an accessible, jargon- and equation-free manner, with plenty of anecdotes, simple charts, and summaries of studies, with a strong preference for easily-explainable experimental or quasi-experimental studies that convincingly demonstrate a point albeit in a narrow area. Findings are arranged thematically by concept (demand curves slope downwards, supply curves slope upwards, adverse selection exists, insurers and hospitals have market power, health outcomes are distributed unequally), with explanations of each that are clear, simple, and often entertaining.
One limitation of the book, albeit one possibly justifiable by a narrow scope and desire for caution, is that little attempt is made to draw strong connections or generalizations within or across topics. How might supply, demand, and market power interact? A high school economics class will typically give an explanation that involves drawing some intersecting lines on a board; a health economics class might do the same with concepts like adverse selection. This, however, is not that kind of book. It does make it an easy read and something you could recommend to someone who hasn't had econ 101 (say, a healthcare professional). The econ-initiated who can shift those curves in their heads will still appreciate the empirical supporting evidence, and acknowledgement of uncertainties and potentially surprising findings from the literature. But befitting the style of modern empirical applied economics, there is an allergy to speculating or extrapolating that does leave gaps in understanding, let alone answering, some bigger questions. Health policy and outcomes differ internationally by quite a lot. These gaps are very hard to analyze in an applied-micro credible way (nobody ran an experiment on the UK's NHS, or the Swiss insurance mandate, as far as I know), but surely there must be more to say than "there are tradeoffs." That said, the coverage in the book does give a broad enough foundation that an interested reader can begin to explore the field in greater depth as well.
One limitation of the book, albeit one possibly justifiable by a narrow scope and desire for caution, is that little attempt is made to draw strong connections or generalizations within or across topics. How might supply, demand, and market power interact? A high school economics class will typically give an explanation that involves drawing some intersecting lines on a board; a health economics class might do the same with concepts like adverse selection. This, however, is not that kind of book. It does make it an easy read and something you could recommend to someone who hasn't had econ 101 (say, a healthcare professional). The econ-initiated who can shift those curves in their heads will still appreciate the empirical supporting evidence, and acknowledgement of uncertainties and potentially surprising findings from the literature. But befitting the style of modern empirical applied economics, there is an allergy to speculating or extrapolating that does leave gaps in understanding, let alone answering, some bigger questions. Health policy and outcomes differ internationally by quite a lot. These gaps are very hard to analyze in an applied-micro credible way (nobody ran an experiment on the UK's NHS, or the Swiss insurance mandate, as far as I know), but surely there must be more to say than "there are tradeoffs." That said, the coverage in the book does give a broad enough foundation that an interested reader can begin to explore the field in greater depth as well.
February 20, 2024
A good introduction to Health Economics. Recommended to anyone interested in learning something about health economics or a little bit about the insurance market or anything related. Professor Tal and Noto do a great job of teaching the content effectively and making it fun to read, simultaneously.
August 2, 2024
Good primer of major themes in health econ for general audience, easy/fun writing style.
Displaying 1 - 3 of 3 reviews