Expert decision-makers often deviate from evidence-based guidelines. If experts lack awareness of guidelines, dissemination may improve outcomes. If experts who are aware of guidelines continue to deviate, promoting stricter adherence has ambiguous effects on outcomes, depending on whether...

We develop a model of the efficiency of medical testing based on rates of negative CT scans for pulmonary embolism. The model is estimated using a 20% sample of Medicare claims from 2000- 2009. We document enormous across-doctor heterogeneity in testing decisions conditional on patient risk and...

We develop a model of the efficiency of medical testing based on rates of negative CT scans for pulmonary embolism. The model is estimated using a 20% sample of Medicare claims from 2000- 2009. We document enormous across-doctor heterogeneity in testing decisions conditional on patient risk and...

Are countries chronically resisting revaluations vulnerable to speculative attacks? I study the timing of a Central Bank's decision to optimally abandon a currency peg in order to avoid accumulating excessive foreign currency reserves on its balance sheet. The central assumption is that foreign...

We measure organizational concentration—the distribution of a patient's healthcare across organizations—to examine how firm boundaries affect healthcare efficiency. First, when patients move to regions where outpatient visits are typically concentrated within a small set of firms, their...

How does team-specific capital affect productivity? We examine the teams that primary care physicians (PCPs) assemble when referring patients to specialists. Our theoretical model finds that team-specific capital is greater when PCPs concentrate their referrals within a smaller set of...