March 10, 2020, Paper: "The United States spends a larger share of its GDP on health care than any other advanced economy. The high private sector health-care spending in the United States relative to that of other economies is driven largely by higher prices. However, there is scant evidence that high U.S. provider prices reflect better quality of care. Because market forces have not yielded competitive commercial provider prices, the authors believe policy intervention is necessary." 

Non-HKS Author Website - Leemore Dafny