Overcoming Bias

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Just A Flesh Wound

www.overcomingbias.com

Just A Flesh Wound

Robin Hanson
Mar 20, 2012
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Just A Flesh Wound

www.overcomingbias.com

ARTHUR: You are indeed brave, Sir knight, but the fight is mine.
BLACK KNIGHT: Oh, had enough, eh?
ARTHUR: Look, you stupid bastard, you’ve got no arms left.
BLACK KNIGHT: Yes I have.
ARTHUR: Look!
BLACK KNIGHT: Just a flesh wound. (more)

In the US the top 5% of medical spenders spend an average of $40,682 a year each, and account for 49.5% of all spending. (The bottom half spend an average of $236.) Not too surprisingly, 60.3% of these people are age 55 or older. Perhaps more surprising, on their health self-rating, 28.9% of these folks say they are “good”, 19.9% “very good” and 7.5% “excellent”, for a total of 56.3% with self-rated health of “good” or better (source).

So, are these folks in serious denial, or is most of our medical spending on hardly sick folks?

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Just A Flesh Wound

www.overcomingbias.com
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