This essay begins by summarizing the reasons why unregulated health-care markets are inefficient. The inefficiencies stem from the asymmetries of information among providers, patients and payers, which give rise to moral hazard and adverse selection. Attempts to ameliorate these inefficiencies by means of risk-adjusted insurance and monetary incentives such as co-pays and deductibles lessen the inefficiencies at the cost of increasing inequalities. Another possibility is to rely on non-monetary incentives, including ordeals. While not a magic bullet, these are feasible methods for addressing the inadequacies of market provision of health care, such as moral hazard.

中文翻译：

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医疗保健中的考验、不平等、道德风险和非货币激励

本文首先总结了不受监管的医疗保健市场效率低下的原因。效率低下源于提供者、患者和支付者之间的信息不对称，这导致了道德风险和逆向选择。尝试通过风险调整保险和货币激励措施（如共付额和免赔额）来改善这些低效率，以增加不平等为代价来减少低效率。另一种可能性是依靠非货币激励，包括考验。虽然不是灵丹妙药，但这些都是解决市场提供医疗保健不足的可行方法，例如道德风险。