Biased beliefs in healthcare lead to overpriced treatments and profit-driven providers.
The article explores how people's beliefs about their future health can impact their decisions when choosing health insurance plans. Biased beliefs can lead to private providers offering treatments that may not be the most efficient. This can create opportunities for private providers to make profits by taking advantage of these biases. The study also looks at how consumers gather information to judge the quality of healthcare providers. The environment can influence how physicians choose to provide quality care.