Taking account of search costs, the consumer who received the lump sum could presumably then shop for the provider that offered the best combination of quality and price in ... In fact, insurance, at least in the United States, functions in exactly this way for some goods such as auto repair. ... At the diagnosis stage considerable expense may be incurred just to establish what precisely ails the patient.
|Title||:||Pricing the Priceless|
|Publisher||:||MIT Press -|