| dc.contributor.author | Abaluck, Jason Todd | |
| dc.contributor.author | Gruber, Jonathan | |
| dc.date.accessioned | 2018-03-09T21:32:08Z | |
| dc.date.available | 2018-03-09T21:32:08Z | |
| dc.date.issued | 2016-08 | |
| dc.identifier.issn | 0002-8282 | |
| dc.identifier.uri | http://hdl.handle.net/1721.1/114044 | |
| dc.description.abstract | © 2016 American Economic Association. All rights reserved. We study choice over prescription insurance plans by the elderly using government administrative data to evaluate how these choices evolve over time. We find large "foregone savings" from not choosing the lowest cost plan that has grown over time. We develop a structural framework to decompose the changes in "foregone welfare" from inconsistent choices into choice set changes and choice function changes from a fixed choice set. We find that foregone welfare increases over time due primarily to changes in plan characteristics such as premiums and out-of-pocket costs; we estimate little learning at either the individual or cohort level. | en_US |
| dc.description.sponsorship | National Institute on Aging (R01 AG031270) | en_US |
| dc.publisher | American Economic Association | en_US |
| dc.relation.isversionof | http://dx.doi.org/10.1257/AER.20130778 | en_US |
| dc.rights | Article is made available in accordance with the publisher's policy and may be subject to US copyright law. Please refer to the publisher's site for terms of use. | en_US |
| dc.source | American Economic Association | en_US |
| dc.title | Evolving Choice Inconsistencies in Choice of Prescription Drug Insurance | en_US |
| dc.type | Article | en_US |
| dc.identifier.citation | Abaluck, Jason, and Jonathan Gruber. “Evolving Choice Inconsistencies in Choice of Prescription Drug Insurance.” American Economic Review 106, no. 8 (August 2016): 2145–2184. © 2016 American Economic Association | en_US |
| dc.contributor.department | Massachusetts Institute of Technology. Department of Economics | en_US |
| dc.contributor.mitauthor | Abaluck, Jason Todd | |
| dc.contributor.mitauthor | Gruber, Jonathan | |
| dc.relation.journal | American Economic Review | en_US |
| dc.eprint.version | Final published version | en_US |
| dc.type.uri | http://purl.org/eprint/type/JournalArticle | en_US |
| eprint.status | http://purl.org/eprint/status/PeerReviewed | en_US |
| dc.date.updated | 2018-02-22T19:15:37Z | |
| dspace.orderedauthors | Abaluck, Jason; Gruber, Jonathan | en_US |
| dspace.embargo.terms | N | en_US |
| dc.identifier.orcid | https://orcid.org/0000-0002-9877-3065 | |
| mit.license | PUBLISHER_POLICY | en_US |
