By Arnold Kling
In this essay, I write
If you obtain a colonoscopy every five years, starting at age 50, then between age 50 and age 75 you will have 6 colonoscopies. Dr. Arai, quoted above, gives a range of $500 to $1000 for the cost of a colonoscopy. If the cost is at the upper end of the range, then the cost of $6000 exceeds the benefits, which we calculated as $5400.
However, with some degree of risk aversion, from an individual standpoint the procedure makes sense. Later, I write,
I personally think that routine colonoscopy is worthwhile, and I can sympathize with others who agree. However, it may appear otherwise to those who are fixated on the trade-off between aggregate longevity and cost.