health care. We argue that the prevalence of choice difficulties and biases leading to mistakes in these markets establish a … done a better job documenting consumer-choice mistakes in insurance and treatment choices than explaining why those … mistakes occur, it is clear that we should not ignore these mistakes in our analyses. We document evidence showing that …

leads to random mistakes, while complexity in costs leads to a specific mistake: choosing a high-benefit loan, with very …

paper, we study the effects of advertising on consumer mistakes and quantify the resulting effect on consumer welfare in the … market for mortgage refinancing. Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when …