Comparison friction: Experimental evidence from medicare drug plans

Quarterly Journal of Economics

Volumn 127, Issue 1, 2012, Pages 199-235

  Kling, Jeffrey R ^a   Mullainathan, Sendhil ^b   Shafir, Eldar ^c   Vermeulen, Lee C ^d   Wrobel, Marian V ^e  

^a NATIONAL BUREAU OF ECONOMIC RESEARCH   (United States)

^b HARVARD UNIVERSITY   (United States)

^c PRINCETON UNIVERSITY   (United States)

^d UNIVERSITY OF WISCONSIN MADISON   (United States)

^e MATHEMATICA POLICY RESEARCH   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

COMPARATIVE STUDY; CONSUMPTION BEHAVIOR; COST; DRUG PRESCRIBING; EXPERIMENTAL STUDY; HEALTH INSURANCE; SOCIAL POLICY;

UNITED STATES;

EID: 84856956988     PISSN: 00335533     EISSN: 15314650     Source Type: Journal    
DOI: 10.1093/qje/qjr055     Document Type: Article

References (27)

1. Abaluck, Jason, and Jonathan Gruber, "Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program," American Economic Review, 101(2011), 1180-1210
2. Bernartzi, Shlomo, and Richard H. Thaler, "How Much Is Investor Autonomy Worth?" Journal of Finance, 57 (2002), 1593-1616.
3. Brown, Jeffrey R., and Austan Goolsbee, "Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry," Journal of Political Economy, 110 (2002), 481-507.
4. Brynjolfsson, Erik, and Michael D. Smith, "Frictionless Commerce? A Comparison of Internet and Conventional Retailers," Management Science, 46 (2000), 563-585.
5. Bundorf, M. Kate, and Helena Szrek, "Choice Set Size and Decision Making: The Case of Medicare Part D Prescription Drug Plans," Medical Decision Making, 30 (September/October 2010), 582-593.
6. Domino, Marisa Elena, Sally C. Stearns, Edward C. Norton, and Wei-Shi Yeh, "Why Using Current Medications to Select a Medicare Part D Plan May Lead to Higher Out-of-Pocket Payments," Medical Care Research and Review, 65 (2008), 114-126.
7. Duggan, Mark G., and Fiona Scott Morton, "The Medium Term Impacts of Medicare Part D on Pharmaceutical Prices," American Economic Review: Papers and Proceedings, 101 (2011), 387-392.
8. Ellison, Glenn, and Sara Fisher Ellison, "Search, Obfuscation, and Price Elasticities on the Internet," Econometrica, 77 (March 2009), 427-452
9. Engelhardt, Gary V., and Jonathan Gruber, "Medicare Part D and the Financial Protection of the Elderly," American Economic Journal: Economic Policy, forthcoming.
10. Fung, Archon, Mary Graham, and David Weil, Full Disclosure: The Perils of and Promise of Transparency (Cambridge: Cambridge University Press, 2007).
11. Gold, Marsha, Lori Achman, and Randall S. Brown, "The Salience of Choice for Medicare Beneficiaries," Managed Care Quarterly, 11 (2003), 24-33.
12. Goldman, Dana P., Geoffrey F. Joyce, and William B. Vogt, "Part D Formulary and Benefit Design as a Risk Steering Mechanism," American Economic Review: Papers and Proceedings, 101 (2011), 382-386.
13. Hanoch, Yaniv, Thomas Rice, Janet Cummings, and Stacey Wood, "How Much Choice Is Too Much? The Case of the Medicare Prescription Drug Benefit," Health Services Research, 44 (2009), 1157-1168.
14. Hastings, Justine S., and Jeffrey M. Weinstein, "Information, School Choice, and Academic Achievement: Evidence from Two Experiments," Quarterly Journal of Economics, 123 (2008), 1373-1414.
15. Heiss, Florian, Daniel McFadden, and Joachim Winter, "Who Failed to Enroll in Medicare Part D, and Why?" Health Affairs, 25 (2006), w344-w354
16. Heiss, Florian, "Mind the Gap! Consumer Perceptions and Choices of Medicare Part D Prescription Drug Plans," in Research Findings in the Economics of Aging, David A. Wise, ed., 413-481 (Chicago: University of Chicago Press, 2010).
17. Hibbard, Judith H., Paul Slovic, Ellen Peters, Melissa L. Finucane, and Martin Tusler, "Is The Informed-Choice Policy Approach Appropriate for Medicare Beneficiaries?" Health Affairs, 20 (2001), 199-203.
18. Ketcham, Jonathan D., Claudio Lucarelli, Eugenio J. Miravete, and M. Christopher Roebuck, "Sinking, Swimming, or Learning to Swim in Medicare Part D," American Economic Review, forthcoming.
19. Lucarelli, Claudio, Jeffrey Prince, and Kosali Simon, "Measuring Welfare and the Effects of Regulation in a Government-Created Market: The Case of Medicare Part D Plans," NBER Working Paper No. w14296, September 2008.
20. McCormack, Lauren A., Steven A. Garfinkel, Judith H. Hibbard, Kerry E. Kilpatrick, and William D. Kalsbeek, "Beneficiary Survey-Based Feedback on New Medicare Information Materials," Health Care Financing Review, 23 (2001), 37-46.
21. MedPAC, Report to the Congress: Medicare Payment Policy (Washington, DC: Medicare Payment Advisory Commission, 2007)
22. Neuman, Patricia, Michelle Kitchman Strollo, Stuart Guterman, William H. Rogers, Angela Li, Angie Mae C. Rodday, and Dana Gelb Safran, "Medicare Prescription Drug Benefit Progress Report: Findings From a 2006 National Survey of Seniors," Health Affairs, 26 (2007), w630-w643.
23. Scott Morton, Fiona, Florian Zettelmeyer, and Jorge Silva-Risso, "Internet Car Retailing," Journal of Industrial Economics, 49 (2001), 501-519.
24. U.S. Department of Health and Human Services, "Medicare Drug Plans Strong and Growing," press release, http://www.cms.hhs.gov/apps/media/press/release.asp?Counter=2079, (January 30, 2007).
25. Weil, David, Archon Fung, Mary Graham, and Elena Fagotto, "The Effectiveness of Regulatory Disclosure Policies," Journal of Policy Analysis and Management, 25 (2006), 155-181
26. Winter, Joachim, Rowilma Balza, Frank Caro, Florian Heiss, Byung-hill Jun, Rosa Matzkin, and Daniel McFadden, "Medicare Prescription Drug Coverage: Consumer Information and Preferences," Proceedings of the National Academy of Sciences, 103 (2006), 7929-7934
27. Yin, Wesley, Anirban Basu, James X. Zhang, Atonu Rabbani, David O. Meltzer, and G. Caleb Alexander, "The Effect of the Medicare Part D Prescription Benefit on Drug Utilization and Expenditures," Annals of Internal Medicine, 148 (2008), 169-177.