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Does quality affect patients’ choice of doctor? Evidence from the UK

Gravelle, Hugh S; Propper, Carol; Santos, Rita - C.E.P.R. Discussion Papers - 2013

Provider competition is a currently popular healthcare reform model. A necessary condition for greater competition to improve quality is that providers will face higher demand if they improve their quality. We test this crucial assumption in an important part of the health care market using data...

Persistent link: https://www.econbiz.de/10011084725

Extending Choice In English Health Care: The implications of the economic evidence

Burgess, Simon; Propper, Carol; Wilson, Deborah - C.E.P.R. Discussion Papers - 2005

Extending choice in health care is currently popular amongst English, and other, politicians. Those promoting choice … choice acts as a major driver for efficiency. Giving service users the ability to choose applies competitive pressure to … subjects this assumption to the scrutiny provided by a review of the theoretical and empirical economic evidence on choice in …

Persistent link: https://www.econbiz.de/10005067537

Consistency in Simple vs. Complex Choices over the Life Cycle

Brocas, Isabelle; Carrillo, Juan D; Combs, T. Dalton; … - C.E.P.R. Discussion Papers - 2015

Employing a variant of GARP, we study consistency in aging by comparing the choices of younger adults (YA) and older adults (OA) in a 'simple', two-good and a `complex' three-good condition. We find that OA perform worse than YA in the complex condition but similar in the simple condition....

Persistent link: https://www.econbiz.de/10011186610

(Measured) Profit is Not Welfare: Evidence from an Experiment on Bundling Microcredit and Insurance

Banerjee, Abhijit; Duflo, Esther; Hornbeck, Richard - C.E.P.R. Discussion Papers - 2014

We investigate the puzzle of microfinance: that loans generate large measured returns for businesses, yet loan take-up is low and the businesses often close. We analyze a randomized trial that bundled microfinance loans with a cheap health insurance policy. Requiring clients to purchase...

Persistent link: https://www.econbiz.de/10011084607

Can We Measure Hospital Quality from Physicians' Choices?

Machado, Matilde Pinto; Mora, Ricardo; Romero-Medina, … - C.E.P.R. Discussion Papers - 2008

In this paper, we propose an alternative methodology for ranking hospitals based on the choices of Medical School graduates over hospital training vacancies. Our methodology is therefore a revealed preference approach. Our methodology for measuring relative hospital quality has the following...

Persistent link: https://www.econbiz.de/10005666868

Add-on Pricing, Naive Consumers, and the Hidden Welfare Costs of Education

Kosfeld, Michael; Schüwer, Ulrich - C.E.P.R. Discussion Papers - 2011

Previous research shows that firms shroud high add-on prices in competitive markets with naive consumers leading to inefficiency. We analyze the effects of regulatory intervention via educating naive consumers on equilibrium prices and welfare. Our model allows firms to shroud, unshroud, or...

Persistent link: https://www.econbiz.de/10009367427

“At least I didn’t lose money” Nominal Loss Aversion Shapes Evaluations of Housing Transactions

Stephens, Thomas A; Tyran, Jean-Robert - C.E.P.R. Discussion Papers - 2012

Loss aversion is one of the most robust findings to have emerged from behavioral economics. Surprisingly little attention, however, has been devoted to nominal loss aversion, the interaction of loss aversion and money illusion. People tend to think of transactions in terms of their nominal...

Persistent link: https://www.econbiz.de/10011083826

Boundedly Rational Dynamic Programming: Some Preliminary Results

Gabaix, Xavier - C.E.P.R. Discussion Papers - 2012

A key open question in economics is the practical, portable modeling of bounded rationality. In this short note, I report on ongoing progress that is more fully developed elsewhere. I present some results from a new model with boundedly rational features in which the decision-maker (DM) builds a...

Persistent link: https://www.econbiz.de/10011083499

Price Distortions in High-Frequency Markets

Steiner, Jakub; Stewart, Colin - C.E.P.R. Discussion Papers - 2014

We study the effect of frequent trading opportunities and categorization on pricing of a risky asset. Frequent opportunities to trade can lead to large distortions in prices if some agents forecast future prices using a simplified model of the world that fails to distinguish between some states....

Persistent link: https://www.econbiz.de/10011083554

Reason-Based Choice: A Bargaining Rationale for the Attraction and Compromise Effects

de Clippel, Geoffroy; Eliaz, Kfir - C.E.P.R. Discussion Papers - 2009

This paper proposes a model of boundedly rational choice that explains the well known attraction and compromise effects …

Persistent link: https://www.econbiz.de/10004976794