5. Pricing Failures: the waste that comes as prices migrate far from those expected in well-functioning markets, that is, the actual costs of production plus a fair profit. For example, because of the absence of effective transparency and competitive markets, US prices for diagnostic procedures such as MRI and CT scans are several times more than identical procedures in other countries. We estimate that this category represented between $ 84 billion and $ 178 billion in wasteful spending in 2011.