Describe mechanisms society created to deal with uncertainty


Problem: Uncertainty enters into the maintenance and production of health in numerous ways, including (a) Whether and when individuals will get sick; (b) Whether a given treatment will work for a given patient; (c) Whether on average a treatment will work for a whole class of patients; (d) whether a specific doctor is competent to deliver treatment. Pick any two of these and describe the major mechanisms (institutional arrangements) that our society has created to deal with the uncertainty.

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Econometrics: Describe mechanisms society created to deal with uncertainty
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