We develop a structural model for bounding welfare effects of policies that alter the design of differentiated product markets when some consumers may be misinformed about product characteristics and inertia in consumer behavior reflects a mixture of latent preferences, information costs,...

Neoclassical and psychological models of consumer behavior often make divergent predictions for the welfare effects of paternalistic policies, leaving wide scope for researchers' choice of a model to influence their policy conclusions. We develop a framework to reduce this model uncertainty and...

"Professional partnerships might facilitate matching between specialized professionals and heterogeneous consumers, particularly where matching across firms is limited by information, incentives or regulation. We examine the extent to which internally-differentiated medical groups promote...

We propose new methods to model behavior and conduct welfare analysis in complex environments where some choices are unlikely to reveal preferences. We develop a mixture-of-experts model that incorporates heterogeneity in consumers' preferences and in their choice processes. We also develop a...

We find that long-term exposure to fine-particulate air pollution (PM2.5) degrades health and human capital among older adults by increasing their risk of developing Alzheimer's disease and related dementias. We track U.S. Medicare beneficiaries' cumulative residential exposures to PM2.5 and...

We analyze Medicare Part D's net effect on elderly out-of-pocket (OOP) costs and use of prescription drugs using a dataset containing 1.4 billion prescription records from Wolters Kluwer Health (WKH). These data span the period December 2004-December 2007 and include pharmacy customers whose age...

Theory indicates that internally-differentiated professional partnerships can promote matching between heterogeneous consumers and professionals, particularly when consumers have imperfect information or markets have barriers to referrals between firms. We test this in obstetrics markets,...