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来源类型Working Paper
规范类型报告
DOI10.3386/w21104
来源IDWorking Paper 21104
Salience, Myopia, and Complex Dynamic Incentives: Evidence from Medicare Part D
Christina M. Dalton; Gautam Gowrisankaran; Robert Town
发表日期2015-04-20
出版年2015
语种英语
摘要The standard Medicare Part D drug insurance contract is nonlinear—with reduced subsidies in a coverage gap—resulting in a dynamic purchase problem. We consider enrollees who arrived near the gap early in the year and show that they should expect to enter the gap with high probability, implying that, under a benchmark model with neoclassical preferences, the gap should impact them very little. We find that these enrollees have flat spending in a period before the doughnut hole and a large spending drop in the gap, providing evidence against the benchmark model. We structurally estimate behavioral dynamic drug purchase models and find that a price salience model where enrollees do not incorporate future prices into their decision making at all fits the data best. For a nationally representative sample, full price salience would decrease enrollee spending by 31%. Entirely eliminating the gap would increase insurer spending 27%, compared to 7% for generic-drug-only gap coverage.
主题Microeconomics ; Behavioral Economics ; Health, Education, and Welfare ; Health ; Industrial Organization ; Industry Studies
URLhttps://www.nber.org/papers/w21104
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/578779
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GB/T 7714
Christina M. Dalton,Gautam Gowrisankaran,Robert Town. Salience, Myopia, and Complex Dynamic Incentives: Evidence from Medicare Part D. 2015.
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