Learn More
The copyright to this Article is held by the Econometric Society. It may be downloaded, printed and reproduced only for educational or research purposes, including use in course packs. No downloading or copying may be done for any commercial purpose without the explicit permission of the Econometric Society. For such commercial purposes contact the Office(More)
The conventional wisdom for the healthcare sector is that idiosyncratic features leave little scope for market forces to allocate consumers to higher performance producers. However, we find robust evidence - across several different conditions and performance measures - that higher quality hospitals have higher market shares and grow more over time. The(More)
A growing literature studies social networks and their implications for economic outcomes. This paper highlights, examines, and addresses econometric problems that arise when a researcher studies these network effects using sampled network data. In applied work, researchers generally construct networks from data collected from a partial sample of nodes. For(More)
I study the relationship between bank-specific capital and credit access in a new setting: bank branch closings in markets where the branch network is dense. Existing regulation in the U.S. is targeted toward areas with few branches where closings inhibit physical access to the branch network. I show that, even in crowded markets, closings can have large(More)
This paper investigates the effects of social network position on the ability to overcome contract incompleteness using an experiment in Karnataka, In-dia. We randomly pair individuals (who live in the same village and are known to one another) to play informal risk-sharing games across three contracting environments which vary the level of formal(More)
The Affordable Care Act (ACA) dramatically expanded the use of regulated marketplaces in health insurance, but consumers often fail to shop for plans during open enrollment periods. Typically these consumers are automatically reenrolled in their old plans, which potentially exposes them to unexpected increases in their insurance premiums and cost sharing.(More)
for helpful comments. We gratefully acknowledge support from the NIA (R01 AG032449). The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research. At least one co-author has disclosed a financial relationship of potential relevance for this research. NBER working papers are(More)
The rapid growth of Political Action Committees – expenditures neared $500 million in the 2012 presidential election – is center-stage in the debate over money in American politics. The effect of PACs on elections depends on regulation and its interaction with imperfect competition. Congress requires stations to treat candidates to the same office equally,(More)
Political Action Committees have grown rapidly – expenditures neared $500 million in the 2012 presidential election – emerging center-stage in the debate over money in American politics. Their effect on elections depends on regulation and its interaction with imperfect competition. Congress requires stations to treat candidates to the same office equally,(More)