Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program
成果类型：
Article
署名作者：
Abaluck, Jason; Gruber, Jonathan
署名单位：
Massachusetts Institute of Technology (MIT)
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/aer.101.4.1180
发表日期：
2011
页码：
1180-1210
关键词：
摘要：
We evaluate the choices of elders across their insurance options under the Medicare Part D Prescription Drug plan, using a unique dataset of prescription drug claims matched to information on the characteristics of choice sets. We document that elders place much more weight on plan premiums than on expected out-of-pocket costs; value plan financial characteristics beyond any impacts on their own financial expenses or risk; and place almost no value on variance-reducing aspects of plans. Partial equilibrium welfare analysis implies that welfare would have been 27 percent higher if patients had all chosen rationally. (JEL D12, I11, J14)
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