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We study the welfare effects of offering choice over coverage levels—“vertical choice”—in regulated health insurance …. We show that vertical choice is efficient only if consumers with higher willingness to pay for insurance have a higher …
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This timely book makes a forceful argument that the analyses from behavioral economists are incomplete, the policies advocated by libertarian paternalists are misguided and unethical, and both actually reinforce the cognitive biases and dysfunctions that motivate 'nudges' in the first place. In...
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