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We study how the politicization of policies designed to correct market failures can undermine their effectiveness. The Patient Protection and Affordable Care Act (ACA) was among the most politically divisive expansions of the US government. We examine whether partisanship distorted enrollment...
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In this paper we experimentally test a theory of boundedly rational behavior in a "lemons market." We analyzed two … empirical observations deviate substantially from these predictions of rational choice theory: Even after 20 repetitions, the …
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