Comparison friction: experimental evidence from medicare drug plans.

@article{Kling2012ComparisonFE,
  title={Comparison friction: experimental evidence from medicare drug plans.},
  author={Jeffrey R. Kling and Sendhil Mullainathan and Eldar Shafir and Lee C. Vermeulen and Marian V. Wrobel},
  journal={The quarterly journal of economics},
  year={2012},
  volume={127 1},
  pages={199-235}
}
Consumers need information to compare alternatives for markets to function efficiently. Recognizing this, public policies often pair competition with easy access to comparative information. The implicit assumption is that comparison friction—the wedge between the availability of comparative information and consumers' use of it—is inconsequential because when information is readily available, consumers will access this information and make effective choices. We examine the extent of comparison… CONTINUE READING
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