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Reference Price
A reference price (RP) is the price that a purchaser announces that it is willing to pay for a good or service. It is used by high-volume purchasers to inform suppliers. RP requires consumers to have access to price and quality information, which is not general practice in many industries. Further, it does not help consumers with urgent needs, cognitive and/or other impairments. Reference pricing requires sufficient competition. Otherwise, consumers have no choice about providers, who in turn face less pricing pressure. Reference pricing could encourage lower quality. "Reference price" in this context is distinct from its use in behavioral pricing scholarship. In that literature, a "reference price" refers to a mental standard of comparison or a posted statement of "normal" prices used to judge whether an offered price is good deal -- as in "Was $100, now $70." Reference prices in this context are related to work by Nobel Prize winner Richard Thaler on "transaction utility" in hi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Richard Thaler
Richard H. Thaler (; born September 12, 1945) is an American economist and the Charles R. Walgreen Distinguished Service Professor of Behavioral Science and Economics at the University of Chicago Booth School of Business. In 2015, Thaler was president of the American Economic Association. Thaler is a theorist in behavioral economics who has collaborated with Daniel Kahneman, Amos Tversky, and others in further defining that field. In 2018, he was elected a member in the National Academy of Sciences. In 2017, he was awarded the Nobel Memorial Prize in Economic Sciences for his contributions to behavioral economics. In its Nobel prize announcement, the Royal Swedish Academy of Sciences stated that his "contributions have built a bridge between the economic and psychological analyses of individual decision-making. His empirical findings and theoretical insights have been instrumental in creating the new and rapidly expanding field of behavioral economics." Personal life Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Knee Replacement
Knee replacement, also known as knee arthroplasty, is a surgical procedure to replace the weight-bearing surfaces of the knee joint to relieve pain and disability, most commonly offered when joint pain is not diminished by conservative sources and also for other knee diseases such as rheumatoid arthritis and psoriatic arthritis. In patients with severe deformity from advanced rheumatoid arthritis, trauma, or long-standing osteoarthritis, the surgery may be more complicated and carry higher risk. Osteoporosis does not typically cause knee pain, deformity, or inflammation and is not a reason to perform knee replacement. Other major causes of debilitating pain include meniscus tears, cartilage defects, and ligament tears. Debilitating pain from osteoarthritis is much more common in the elderly. Knee replacement surgery can be performed as a partial or a total knee replacement. In general, the surgery consists of replacing the diseased or damaged joint surfaces of the knee with m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Natural Gas
Natural gas (also called fossil gas or simply gas) is a naturally occurring mixture of gaseous hydrocarbons consisting primarily of methane in addition to various smaller amounts of other higher alkanes. Low levels of trace gases like carbon dioxide, nitrogen, hydrogen sulfide, and helium are also usually present. Natural gas is colorless and odorless, so odorizers such as mercaptan (which smells like sulfur or rotten eggs) are commonly added to natural gas supplies for safety so that leaks can be readily detected. Natural gas is a fossil fuel and non-renewable resource that is formed when layers of organic matter (primarily marine microorganisms) decompose under anaerobic conditions and are subjected to intense heat and pressure underground over millions of years. The energy that the decayed organisms originally obtained from the sun via photosynthesis is stored as chemical energy within the molecules of methane and other hydrocarbons. Natural gas can be burned fo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alberta
Alberta ( ) is one of the thirteen provinces and territories of Canada. It is part of Western Canada and is one of the three prairie provinces. Alberta is bordered by British Columbia to the west, Saskatchewan to the east, the Northwest Territories (NWT) to the north, and the U.S. state of Montana to the south. It is one of the only two landlocked provinces in Canada (Saskatchewan being the other). The eastern part of the province is occupied by the Great Plains, while the western part borders the Rocky Mountains. The province has a predominantly continental climate but experiences quick temperature changes due to air aridity. Seasonal temperature swings are less pronounced in western Alberta due to occasional Chinook winds. Alberta is the fourth largest province by area at , and the fourth most populous, being home to 4,262,635 people. Alberta's capital is Edmonton, while Calgary is its largest city. The two are Alberta's largest census metropolitan areas. More tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cataract Surgery
Cataract surgery, also called lens replacement surgery, is the removal of the natural lens of the eye (also called "crystalline lens") that has developed an opacification, which is referred to as a cataract, and its replacement with an intraocular lens. Metabolic changes of the crystalline lens fibers over time lead to the development of the cataract, causing impairment or loss of vision. Some infants are born with congenital cataracts, and certain environmental factors may also lead to cataract formation. Early symptoms may include strong glare from lights and small light sources at night, and reduced acuity at low light levels. During cataract surgery, a patient's cloudy natural cataract lens is removed, either by emulsification in place or by cutting it out. An artificial intraocular lens (IOL) is implanted in its place. Cataract surgery is generally performed by an ophthalmologist in an ambulatory setting at a surgical center or hospital rather than an inpatient setting. Eit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Colonoscopy
Colonoscopy () or coloscopy () is the endoscopic examination of the large bowel and the distal part of the small bowel with a CCD camera or a fiber optic camera on a flexible tube passed through the anus. It can provide a visual diagnosis (''e.g.,'' ulceration, polyps) and grants the opportunity for biopsy or removal of suspected colorectal cancer lesions. Colonoscopy can remove polyps smaller than one millimeter. Once polyps are removed, they can be studied with the aid of a microscope to determine if they are precancerous or not. Colonoscopy is similar to sigmoidoscopy—the difference being related to which parts of the colon each can examine. A colonoscopy allows an examination of the entire colon (1,200–1,500mm in length). A sigmoidoscopy allows an examination of the distal portion (about 600mm) of the colon, which may be sufficient because benefits to cancer survival of colonoscopy have been limited to the detection of lesions in the distal portion of the colon. [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arthroscopy
Arthroscopy (also called arthroscopic or keyhole surgery) is a minimally invasive surgical procedure on a joint in which an examination and sometimes treatment of damage is performed using an arthroscope, an endoscope that is inserted into the joint through a small incision. Arthroscopic procedures can be performed during ACL reconstruction. The advantage over traditional open surgery is that the joint does not have to be opened up fully. For knee arthroscopy only two small incisions are made, one for the arthroscope and one for the surgical instruments to be used in the knee cavity. This reduces recovery time and may increase the rate of success due to less trauma to the connective tissue. It has gained popularity due to evidence of faster recovery times with less scarring, because of the smaller incisions. Irrigation fluid (most commonly 'normal' saline) is used to distend the joint and make a surgical space. The surgical instruments are smaller than traditional instruments. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hip Replacement
Hip replacement is a surgical procedure in which the hip joint is replaced by a prosthetic implant, that is, a hip prosthesis. Hip replacement surgery can be performed as a total replacement or a hemi (half) replacement. Such joint replacement orthopaedic surgery is generally conducted to relieve arthritis pain or in some hip fractures. A total hip replacement (total hip arthroplasty or THA) consists of replacing both the acetabulum and the femoral head while hemiarthroplasty generally only replaces the femoral head. Hip replacement is one of the most common orthopaedic operations, though patient satisfaction varies widely. Approximately 58% of total hip replacements are estimated to last 25 years. The average cost of a total hip replacement in 2012 was $40,364 in the United States, and about $7,700 to $12,000 in most European countries. Medical uses Total hip replacement is most commonly used to treat joint failure caused by osteoarthritis. Other indications include rheumatoi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Public Employees' Retirement System
The California Public Employees' Retirement System (CalPERS) is an agency in the California executive branch that "manages pension and health benefits for more than 1.5 million California public employees, retirees, and their families".CalPERSFacts at a glance: general. January 2009. Retrieved December 24, 2008. In fiscal year 2020–21, CalPERS paid over $27.4 billion in retirement benefits,CalPERSFacts at a Glance - Public Employees' Retirement Fund (PERF), 2020-21CalPERS. 2021. Retrieved October 09, 2021. and over $9.74 billion in health benefits.CalPERSFacts at a Glance - Health Benefits, 2019-20CalPERS. 2021. Retrieved October 09, 2021. CalPERS manages the largest public pension fund in the United States, with more than $469 billion in assets under management as of June 30, 2021. CalPERS is known for its shareholder activism; stocks placed on its "Focus List" may perform better than other stocks, which has given rise to the term "CalPERS effect".Sidel, Robin. "Ca ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mental Accounting
Mental accounting (or psychological accounting) attempts to describe the process whereby people code, categorize and evaluate economic outcomes. The concept was first named by Richard Thaler. Mental accounting deals with the budgeting and categorization of expenditures. People budget money into mental accounts for expenses (e.g., saving for a home) or expense categories (e.g., gas money, clothing, utilities). Mental accounts are believed to act as a self-control strategy. People are presumed to make mental accounts as a way to manage and keep track of their spending and resources. People also are assumed to make mental accounts to facilitate savings for larger purposes (e.g., a home or college tuition). Like many other cognitive processes, it can prompt biases and systematic departures from rational, value-maximizing behavior, and its implications are quite robust. Understanding the flaws and inefficiencies of mental accounting is essential to making good decisions and reducing hum ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
External Reference Pricing
External reference pricing (ERP), also known as international reference pricing, is the practice of regulating the price of a medication in one country, by comparing with the price in a "basket" of other reference countries. It contrasts with ''internal reference pricing'', where the price of one drug is compared to the domestic price of therapeutically related drugs, and with ''cost-plus pricing'', where the price involves negotiating an acceptable markup to the unit cost to develop and produce. Policy-making For using ERP in medicine cost regulation policies, the Euripid collaboration recommends the following 12 key principles: # ERP is an important tool but should not be used as the sole criterion, but rather in a mix with other instruments. # ERP should compare single specific products rather than based on indices. # The reference countries basket should be chosen in accordance with the aim of the national pharmaceutical policy. # Evidence has shown that ERP is most effect ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cleveland Clinic
Cleveland Clinic is a nonprofit American academic medical center based in Cleveland, Ohio. Owned and operated by the Cleveland Clinic Foundation, an Ohio nonprofit corporation established in 1921, it runs a 170-acre (69 ha) campus in Cleveland, as well as 11 affiliated hospitals, 19 family health centers in Northeast Ohio, and hospitals in Florida and Nevada. International operations include the Cleveland Clinic Abu Dhabi hospital in the United Arab Emirates and Cleveland Clinic Canada, which has two executive health and sports medicine clinics in Toronto."Facts & Figures" Cleveland Clinic. Another hospital campus in the United Kingdom, Cleveland Clinic London, opened to outpatients in 2021 and is scheduled to fully open in 2022. Tomislav Mihaljevic is the president and CEO. Cleveland Cl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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