The chapter on medicine in @robinhanson and @KevinSimler book is absolute must read. How can this inform so little of policy debate? https://www.amazon.com/Elephant-Brain-Hidden-Motives-Everyday/dp/0190495995/ …
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But who has to be convinced of the costliness? Can parts of medical care just look expensive?
I think you can sometimes fool people with cheap (fake) signals, but usually they cotton on after a while and learn to spot and hate them. Occasionally we don't really care about the fakes though (e.g., cosmetics, cosmetic surgery), so it might be possible?
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"[I]n order to be effective, signals have to be reliable; in order to be reliable, signals have to be costly." One way for a signal to be costly is to waste, in a relevant way. But, a signal doesn't necessarily have to be wasteful to be reliable. (Sufficient but not necessary)
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nice citation there :)
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