By Bryan Caplan
When Gandhi told us, “We must be the change we wish to see in the world,” I can only assume he was talking about reputational incentives in the health insurance industry. So I thought I should finish my “Punk’d by Krugman” story and clarification by naming names. The insurer that denied care – and then reversed its decision after a simple phone call was… Aetna.
Deeper question: If a company quickly corrects a mistake, does that make it more or less reputable than a company that doesn’t make a mistake in the first place? I can see arguments on both sides. Your thoughts?