tag:blogger.com,1999:blog-1740670447258719504.post4572502843369783665..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Another pet peeve I thought I'd shareEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-1740670447258719504.post-36663713366753573692012-03-31T14:06:55.211-04:002012-03-31T14:06:55.211-04:00It should be "the average person saved $x,&qu...It should be "the average person saved $x," not "the average person saved an average of $x."gcallahhttps://www.blogger.com/profile/10065877215969589482noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-33454016198745019492012-03-31T07:38:32.131-04:002012-03-31T07:38:32.131-04:00Right - like I said different coverage (and you ca...Right - like I said different coverage (and you can throw customer service in there too) complicate matters, but it doesn't change the selection bias, which has got to be the major component of this. What percent of switchers do you really think pay more money for the same product? Because that's the other thing - once we get into discussions of customer service and coverage, we're talking about a somewhat differentiated product.<br /><br />The selection bias in that number is still substantial.Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-32108231113342819972012-03-31T01:39:23.092-04:002012-03-31T01:39:23.092-04:00Savings aren't the only reason people might sw...Savings aren't the only reason people might switch insurance companies. An insurance company could earn customers by consistently offering better customer service, or it could by offering more extensive coverage (not just savings, but coverage that other companies don't provide or any price at all -- for example, AAA was at one point one of the few, or the only, company which offered roadside assistance). There are insurance companies which do consistently offer lower rates. Some may offer lower rates, but poorer services -- they do this because they target lower income clients.Jonathan M.F. Catalanhttp://www.economicthought.net/blognoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-2220610901901405252012-03-30T21:00:22.584-04:002012-03-30T21:00:22.584-04:00Oh my gosh are you seriously going to make us keep...Oh my gosh are you seriously going to make us keep guessing? Landsburg had a thing in one of his books, complaining about grocery stores that would have ads saying, "If you take the shopping carts of 100 of our customers, and bought the same items at Competitor X, it would cost y% more." Landsburg said that was dumb because they'd have different sales and of course people would pick the cheap stuff from each store.<br /><br />Is that what you're getting at? I.e. the people who switch are probably able to find a better deal? But I'm not sure it works that well in this case, versus the grocery stores.Bob Murphyhttps://www.blogger.com/profile/04001108408649311528noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-35640989498653357212012-03-30T15:39:56.992-04:002012-03-30T15:39:56.992-04:00I have no idea, but I'll make two guesses,
1...I have no idea, but I'll make two guesses, <br /><br />1) some type of criticism of the use of the word average.<br /><br />Or<br /><br />2) dishonesty in that they imply you'll save the average.Jonathan MF Catalanhttp://economicthought.net/blognoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-59851323475775442212012-03-30T15:13:05.593-04:002012-03-30T15:13:05.593-04:00:)
ummm... do I hear any other guesses?:)<br /><br />ummm... do I hear any other guesses?Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-65231507822425356492012-03-30T15:11:21.258-04:002012-03-30T15:11:21.258-04:00Because you're a socialist and you can't s...Because you're a socialist and you can't stand competition in insurance markets?<br /><br />(ZING!)Bob Murphyhttps://www.blogger.com/profile/04001108408649311528noreply@blogger.com