Thursday, March 6, 2008

The Price of Pain

It may all be in your head after all. In a study published recently in the New England Journal of Medicine the price of a pill determined its effectiveness. In other words the same pill was reported to be more effective when it cost more.

This may be one of the reasons people often prefer high-priced new medications over generics.

The Placebo Effect needs to be studied so we can learn how to capitalize on it. Can you imagine if we spent just 5% on Placebo research than we do on prescription drugs? The pharmaceutical industry would probably disappear within a decade!

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