The recent expansion of health-plan choice has been touted as increasing competition and enabling people to choose plans that fit their needs. This study provides new evidence challenging these proposed benefits of expanded health-insurance choice. We examine health-insurance decisions of...

A large literature treats take-up of commitment contracts, in the form of choice-set restrictions or penalties, as a smoking gun for time-inconsistency or self-control problems (for short, "present focus"). This paper develops techniques for inspecting this assumption, presents new...

Given its importance for theory, welfare, and policy, economists have long sought to understand the prevalence of and motives for risk aversion in the field. In practice, this inquiry is often confounded by the potential for biased beliefs (e.g., betting, investing), imperfect understanding...