I've been hearing from Actuaries about adverse selection on the Pension Fund. I don't see how that applies. I was hoping to gain some insight into that area in particular. Fiduciaries have a responsibility to protect the members' funds but must interpret laws and regulations liberally in favor of the member "while avoiding adverse selection." ... never made sense to me how adverse selection could be applied there... your videos are very informative so I thank you for that! If you ever do a pension context to adverse selection, I'm all in!
To be honest, since I first took the health economic class back in 2018, I have never fully understand the adverse selection topic until this video :'( ...sorry prof...I swear I did study very hard in your class :D Thank you so much for these videos! They are extremely helpful as I continue study and work in healthcare industry :D
Great to see you here, Peter! I definitely know that you studied hard in my classes, and that you are going to do great things in the health care industry in your career. Adverse selection is a really tough concept to get across. My focus in the classroom is more on students, so sometimes I think I give better lectures via video than in the classroom. In which case, I can be thankful that COVID-19 is forcing me to record more material and more truly flip the classroom.
Great explanation! If the general population knew how the competition by insurers work, they will be on the streets protesting about health care. Alas, they are distracted by so many other unimportant things. Your students must be proud of the knowledge you share. Keep up the good work. By the way, are you a professor?
@@FINANCIALFREEDOMCJ A full professor is just a higher rank than I am at now. Associate Professor is tenured, but not yet fully achieved within one's field.
Ashley Hodgson thanks for the explanation. To me you are already a full one in my books. The system is just waiting to catch to you. There is a blockchain project that I recently stumbled upon. I am in no way part of the project. It tries to solve the supply side of economics with behavioral economics which I believe is up your alley. The white paper is a 10 minute read. I know you have a busy schedule but If you can give me your honest thoughts on it, I would really appreciate it. drive.google.com/file/d/1I-NmSnQ6E7wY1nyouuf-GuDdJWNCnJWl/view
You missed an option with avoiding the top 1% which is to put that money into the shareholders pockets. This type of system is why I am against private healthcare like occurs in the United States since it leaves out those that need to the support of the system the most. I live in Canada, and the system works well, but needs improvement. We are seeing most of the provincial governments underfunding the healthcare system therefore forcing the use of the private sector. The issue with this is the private system, as indicated in this video, is looking to only take on the easiest operations to increase high payouts, while avoiding the more costly and difficult procedures.
Wow, 1:00 this kind of reminds me of Pareto distribution. I see this distribution when working with text-data, but it's called Zipf's law. Very cool!
You make great videos - thank you for explaining things in such plain language! I love your blouse in this vid!
really lovely explanation, i will be looking at your other health economics videos
I've been hearing from Actuaries about adverse selection on the Pension Fund. I don't see how that applies. I was hoping to gain some insight into that area in particular. Fiduciaries have a responsibility to protect the members' funds but must interpret laws and regulations liberally in favor of the member "while avoiding adverse selection." ... never made sense to me how adverse selection could be applied there... your videos are very informative so I thank you for that! If you ever do a pension context to adverse selection, I'm all in!
awesome plz keep making good videos about game theory or economic related. this is sincerely educational!!!!
Thank you. I'm in college rn and they way they explained it made zero sense I was so confused. You explained it perfectly though.
This was very good. Thank you.
To be honest, since I first took the health economic class back in 2018, I have never fully understand the adverse selection topic until this video :'( ...sorry prof...I swear I did study very hard in your class :D Thank you so much for these videos! They are extremely helpful as I continue study and work in healthcare industry :D
Great to see you here, Peter! I definitely know that you studied hard in my classes, and that you are going to do great things in the health care industry in your career. Adverse selection is a really tough concept to get across. My focus in the classroom is more on students, so sometimes I think I give better lectures via video than in the classroom. In which case, I can be thankful that COVID-19 is forcing me to record more material and more truly flip the classroom.
Ashley missed you
This is awesome. Thanks!
Great explanation! If the general population knew how the competition by insurers work, they will be on the streets protesting about health care. Alas, they are distracted by so many other unimportant things. Your students must be proud of the knowledge you share. Keep up the good work. By the way, are you a professor?
Yes, I'm a real professor. (Well, Associate Professor, not Full Professor). Thanks for watching!
Ashley Hodgson pretty cool! You share knowledge like one. What’s the difference between an Associate and a full one?
@@FINANCIALFREEDOMCJ A full professor is just a higher rank than I am at now. Associate Professor is tenured, but not yet fully achieved within one's field.
Ashley Hodgson thanks for the explanation. To me you are already a full one in my books. The system is just waiting to catch to you. There is a blockchain project that I recently stumbled upon. I am in no way part of the project. It tries to solve the supply side of economics with behavioral economics which I believe is up your alley. The white paper is a 10 minute read. I know you have a busy schedule but If you can give me your honest thoughts on it, I would really appreciate it. drive.google.com/file/d/1I-NmSnQ6E7wY1nyouuf-GuDdJWNCnJWl/view
You missed an option with avoiding the top 1% which is to put that money into the shareholders pockets. This type of system is why I am against private healthcare like occurs in the United States since it leaves out those that need to the support of the system the most. I live in Canada, and the system works well, but needs improvement. We are seeing most of the provincial governments underfunding the healthcare system therefore forcing the use of the private sector. The issue with this is the private system, as indicated in this video, is looking to only take on the easiest operations to increase high payouts, while avoiding the more costly and difficult procedures.
i love your videos!!!!!