Events

"The Political Economy of Medicaid: Partisanship, Eligibility, and the Consequences of Cost-Saving Measures" Abstract: We explore the linkages between government ideology in U.S. states and geographic variation in Medicaid program design and operations. Medicaid eligibility criteria tend to be more generous in liberal states. Simultaneously, fee-for-service reimbursement rates for physician services have been notably lower…

"Robust Monopoly Regulation" Abstract: We study the regulation of a monopolistic firm using a non-Bayesian approach. We derive the policy that minimizes the regulator’s worst-case regret, where regret is the difference between the regulator’s complete-information payoff and his realized payoff. When the regulator’s payoff is consumers’ surplus, he imposes a price cap. When his payoff…

"Convexity dominates risk premia in long-term forward rates"