Replication data for: Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program
Principal Investigator(s): View help for Principal Investigator(s) Jason Abaluck; Jonathan Gruber
Version: View help for Version V1
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Project Citation:
Abaluck, Jason, and Gruber, Jonathan. Replication data for: Choice Inconsistencies among the Elderly: Evidence from Plan Choice in the Medicare Part D Program. Nashville, TN: American Economic Association [publisher], 2011. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112428V1
Project Description
Summary:
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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)
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
I11 Analysis of Health Care Markets
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
D12 Consumer Economics: Empirical Analysis
I11 Analysis of Health Care Markets
J14 Economics of the Elderly; Economics of the Handicapped; Non-labor Market Discrimination
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