Mr. Pauly has a very interesting sentence: "the above analysis shows, however, that the response of seeking more medical care with insurance than in its absence is a result not of moral perfidy, but of rational economic behavior." We may agree certainly that the seeking of more medical care with insurance is a rational action on the part of the individuals if no further constraints are imposed. It does not follow that no constraints ought to be imposed or indeed that in certain contexts individuals should not impose constraints on themselves. Mr Pauly's wording suggests that "rational economic behavior" and "moral perfidy" are mutually exclusive categories. No doubt Judas Iscariot turned a tidy profit from one of his transactions, but the usual judgment of his behavior is not necessarily wrong.
-KENNETH J. ARROW
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