Commission Bias

  • The $500 Popsicle: Perceived Value and Commission Bias

    By Marjorie Stiegler on December 31, 2015
    A toddler falls face-first onto an iron table, bleeding profusely. Mom takes the baby to the emergency room. After her child was evaluated, it was determined that no serious injury was sustained, no further intervention was needed, and the toddler was discharged home with some wound care instructions and a popsicle. When the mother subsequently received a bill from the ER, she remarked, “That was one pricey popsicle.” But deciding to "do nothing" IS doing something - something that requires a high level of medical expertise...