by Tyler Cowen
on September 7, 2012 at 12:10 pm
1. Regional sandwich guide to the U.S.
2. The 600,000 euro Spanish amputation.
3. Caplan on Klein and the Forsaken Liberty Syndrome.
4. The dynamic pricing of toilet paper, and here.
5. The Chinese government doubles down on infrastructure and stimulus.
6. Harvey Rosen defends the Romney tax plan (pdf).
From the insurance fraud/amputation article –
‘But it belongs to a new category of fraud that has emerged out of the crisis: fraud performed out of economic necessity. The Zurich group presented a report in March that highlighted the emergence of this new sort of defrauder.
“This type of policyholder now covers a debt or bad results in his business with his insurance,” explains Carlos Palos, director of Zurich’s accidents claims department. “Claiming compensation becomes a way of getting money,” he adds.’
Somehow, this seems neither new nor news.
I was all set to mock that quote.
1. Fails to define the regions. Am I in the Northeast? Because in Detroit a shawarma is much more typical than anything on the Midwest list.
#3) Allowing an average income person to insure an arm for $800K USD in the first place seems like a Fail on the part of the insurance companies.
It was multiple people with separate policies for the same person that totaled 600,000 Euros which makes it a little less obvious but checking for duplicate policies would still seem like an important principle.
Ref. Dynamic pricing on online retailers – I wonder if their inventory prices fluctuates also? If not what is the basis of the scarcity that drives prices? If their stock is replenished at a fixed price then any daily price variations only operate within the profit margin of the retailer. What is the societal benefit in this scenario?
The Italian Beef sandwich is a work of sublime genius.
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