New regulation of health insurance markets creates multiple levels of health plans, with designations like “Gold” and “Silver.” The underlying rationale for the heavy-metal approach to insurance regulation is that heterogeneity in demand for health care is not only due to health status...

The COVID-19 phenomenon is exceptional and extraordinary. So much so, that the relevance of the insights we’ve gained over the years in economics in general, and in the area of health economics in particular, for understanding this phenomenon is especially small. Moreover, at this point in...