Audiologists Not Immune to Dunning-Kruger Effect
When everyone is thinking alike, then somebody isn’t thinking. Gen. George Patton If you’re the smartest person in the room, find another room. Michael Dell (Forbes magazine) “As God has said, and I think he’s right…” Margaret Thatcher Dunning and Kruger were the first to systematically investigate unconscious incompetence and report their findings in the…
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Not all States are Equal When It Comes to Costco and Audiologists
Last post in the Costco series initiated rudimentary analyses of hearing-related market growth in the US by comparing aggregate variables in the top 25 states ranked by Costco presence (“Top” states) versus the lower 25 states (“Bottom” states). Top states exceeded Bottom states, in adjusted per capita measures (feature image). Compared to Bottom states, the Top…
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The Costco Way: Ya Gotta Eat and Ya Oughta Hear
But ya don’t gotta see an audiologist to hear better, if you do it the Costco Way. That Way is putting pressure on the traditional medical model of hearing aid dispensing, which is under siege from all quarters — Big Boxes, Internet, PSAPs, OTC legislation, Hearables — and is not likely to sustain in its…
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US Hearing Device Patents for November 2016
Sybaritic Pleasures: A Quick Econ 101 Primer On the Demand side, marketeers talk about creating and growing markets by identifying needs (e.g., hunger) and turning them into wants by creating products that offer more and more satisfaction (e.g., hamburgers, then caviar). Economists talk about growing demand by foreseeing consumer preferences across all possible goods which…
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End of Barriers, Part 4
This is the almost-final Econ 202 post on barriers that exist in the US hearing aid manufacturing and delivery system.1 Parts 1, 2 and 3 addressed regulatory requirements that discourage new entrants; legal and economic definitions of barrier to industry entry/exit; structural and strategic barriers in the hearing aid industry; and specific strategic barriers used by incumbent manufacturers in their…
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