Inattention and Switching Costs as Sources of Inertia in Medicare Part D
研究了消费者在Medicare D部分药品计划中惯性行为的两个来源：对计划选择的注意力不足和转换成本，发现注意力不足是惯性的重要来源，但转换成本对低敏锐度个体也起作用。
Consumers’ health plan choices are highly persistent even though optimal plans change over time. This paper separates two sources of inertia, inattention to plan choice and switching costs. We develop a panel data model with separate attention and choice stages, linked by heterogeneity in acuity, i.e., the ability and willingness to make diligent choices. Using data from Medicare Part D, we find that inattention is an important source of inertia but switching costs also play a role, particularly for low-acuity individuals. Separating the two stages and allowing for heterogeneity is crucial for counterfactual simulations of interventions that reduce inertia.