HKS Affiliated Authors
Director of the Taubman Center for State and Local Government
Robert W. Scrivner Professor of Social Policy
Frank Plumpton Ramsey Professor of Political Economy
Excerpt
Excerpt
Simple Humans, Complex Insurance, Subtle Subsidies. Jeffrey Liebman, Richard Zeckhauser, September 2008, Paper. "The behavioral revolution in economics has demonstrated that human beings often have difficulty making wise choices. The most widely chronicled difficulties arise for decisions made under conditions of uncertainty, those whose consequences unfold over significant amounts of time, and decisions made in complex environments. Unfortunately, these are precisely the elements involved when individuals choose a health insurance policy, or decide whether to consume health care services. In this paper, we argue that..." Link