| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w17410 |
| 来源ID | Working Paper 17410 |
| Comparison Friction: Experimental Evidence from Medicare Drug Plans | |
| Jeffrey R. Kling; Sendhil Mullainathan; Eldar Shafir; Lee Vermeulen; Marian Wrobel | |
| 发表日期 | 2011-09-08 |
| 出版年 | 2011 |
| 语种 | 英语 |
| 摘要 | Consumers need information to compare alternatives for markets to function efficiently. Recognizing this, public policies often pair competition with easy access to comparative information. The implicit assumption is that comparison friction--the wedge between the availability of comparative information and consumers' use of it--is inconsequential because information is readily available and consumers will access this information and make effective choices. We examine the extent of comparison friction in the market for Medicare Part D prescription drug plans in the United States. In a randomized field experiment, an intervention group received a letter with personalized cost information. That information was readily available for free and widely advertised. However, this additional step--providing the information rather than having consumers actively access it--had an impact. Plan switching was 28 percent in the intervention group, versus 17 percent in the comparison group, and the intervention caused an average decline in predicted consumer cost of about $100 per year among letter recipients--roughly 5 percent of the cost in the comparison group. Our results suggest that comparison friction can be large even when the cost of acquiring information is small, and may be relevant for a wide range of public policies that incorporate consumer choice. |
| 主题 | Microeconomics ; Economics of Information ; Health, Education, and Welfare ; Health |
| URL | https://www.nber.org/papers/w17410 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/575084 |
| 推荐引用方式 GB/T 7714 | Jeffrey R. Kling,Sendhil Mullainathan,Eldar Shafir,et al. Comparison Friction: Experimental Evidence from Medicare Drug Plans. 2011. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w17410.pdf（3555KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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