Final 2.009 presentations provide new ideas for athletes, patients, hobbyists, and even horses.
A higher-priced medication with a brand name might work better than a generic version--even if the pills are exactly the same--simply because the patient thinks the expensive prescription should work better, according to a recently published MIT study.
The study--conducted by researchers including graduate student Rebecca Waber and Dan Ariely, the Alfred P. Sloan Professor of Behavioral Economics at MIT--involved 82 volunteers who were given identical placebos that were supposed to be a new pain medication. But the volunteers were told the pills had different costs, with some getting pills supposedly costing 10 cents, and some getting $2.50 pills.
Results of the study, which appeared in the March 5 issue of the Journal of the American Medical Association, showed that those who were told the pill cost more reported feeling less pain from a series of electrical shocks to the wrist. Those told the pill only cost 10 cents reported feeling more pain on average.
The results may impact how generic medication and brand-name medication are marketed, packaged and distributed, and help explain "the popularity of high-cost medical therapies over inexpensive, widely available alternatives," according to the study.