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We estimate the economic surplus created by Medicare Advantage under its reformed competitive bidding rules. We use data on the universe of Medicare beneficiaries, and develop a model of plan bidding that accounts for both market power and risk selection. We find that private plans have costs...
Persistent link: https://www.econbiz.de/10011114863
Motivated by widely publicized concerns that there are "too many" plans, we structurally estimate (and validate) an equilibrium model of the Medicare Part D market to study the welfare impacts of two feasible, similar-sized approaches for reducing choice. One reduces the maximum number of firm...
Persistent link: https://www.econbiz.de/10005575108
Following a brief review of the U.S. domestic airline industry under regulation (1938-1978), we study the changes that …
Persistent link: https://www.econbiz.de/10005777407
Online reviews could, in principle, greatly improve consumers' ability to evaluate products. However, the authenticity of online user reviews remains a concern; firms have an incentive to manufacture positive reviews for their own products and negative reviews for their rivals. In this paper, we...
Persistent link: https://www.econbiz.de/10010821890
, consumers are persistent in their habit of buying lottery tickets at the "lucky" store; however, as the shock to total gambling … dissipates, there is no evidence that lottery gambling itself is habit forming or addictive. …
Persistent link: https://www.econbiz.de/10005575337
Economists are skeptical about the economic benefits of hosting "mega-events" such as the Olympic Games or the World Cup, since such activities have considerable cost and seem to yield few tangible benefits. These doubts are rarely shared by policy-makers and the population, who are typically...
Persistent link: https://www.econbiz.de/10005575668
casinos with slot machines and/or table games. We use a simple difference-in-difference framework where we compare economic … outcomes before and after tribes open casinos to outcomes over the same period for tribes that do not adopt or are prohibited … from adopting gaming. Four years after tribes open casinos, employment has increased by 26 percent, and tribal population …
Persistent link: https://www.econbiz.de/10005775265
This paper examines determinants of Olympic success at the country level. Does the U.S. win its fair share of Olympic medals? Why does China win 6% of the medals even though it has 1/5 of the world's population? We consider the role of population and economic development in determining medal...
Persistent link: https://www.econbiz.de/10005830436
Using implicit expected utility theory, a money metric of utility derived from playing a lottery game is developed. Output of the lottery sector can be defined as the difference in utility with and without the game. Using a kinked parametric functional form, outputs of the Canadian Lotto 6/49...
Persistent link: https://www.econbiz.de/10005830508
This paper addresses the question of whether societies that afford economic opportunity to women offer other opportunities as well. The analysis in this paper shows that the performance of a country's women in international athletic competition reflects the degree of their relative participation...
Persistent link: https://www.econbiz.de/10005714772