I review the key issues that arise in financing health care delivery. I begin by documenting
the key features of health care markets that make financing so central in this sector, such as …

Consumers suffer significant losses from not acting on available information. These losses
stem from frictions such as search costs, switching costs, and rational inattention, as well as …

Consideration set models generalize discrete-choice models by relaxing the assumption
that consumers consider all available options. Determining which options were considered …

Abstract The Medicare Part D program relies on consumer choice to provide insurers with
incentives to offer low‐priced, high‐quality pharmaceutical insurance plans. We …

Consumers' health plan choices are highly persistent even though optimal plans change
over time. This paper separates two sources of inertia, inattention to plan choice and …

Competition in health insurance markets may fail to improve health outcomes if consumers
are not able to identify high-quality plans. We develop and apply a novel instrumental …

I take advantage of regulatory and pricing dynamics in Medicare Part D to explore
interactions among adverse selection, inertia, and regulation. I first document novel …

We explore how private drug plans set cost sharing in the context of Medicare Part D. While
publicly provided drug coverage typically involves uniform cost sharing across drugs, we …

The field of behavioural economics can tell us a great deal about cognitive bias and
unconscious decision-making, challenging the orthodox economic model whereby …

First-year insurer participation in the Health Insurance Marketplaces (HIMs) established by
the Affordable Care Act is limited in many areas of the country. There are 3.9 participants, on …