In a laboratory experiment designed to capture key aspects of the interaction between physicians and patients, we study … the effects of medical insurance and competition in the guise of free choice of physician, including observability of … physicians' market shares. Medical treatment is an example of a credence good: only the physician knows the appropriate treatment …

In a laboratory experiment designed to capture key aspects of the interaction between physicians and patients in a … stylized way, we study the effects of medical insurance and competition in the guise of free choice of physician. Medical … overtreated. We find that with insurance, moral hazard looms on both sides of the market: patients consult more often and …

physician. We combine insurance claims data with web-scraped physician reviews and highlight a substantial care-gap resulting … from a physician’s retirement. We then show that online physician reviews reduce this gap and help patients find a new … physician reviews, but are not found for patients of nonretiring physicians. By reducing interruptions in care, reviews can …