Amy Finkelstein

Amy Finkelstein

John & Jennie S. MacDonald Professor of Economics

Research Fields

Health Economics, Public Economics

Contact Information

Office Phone 617-253-4149
Email Address afink@mit.edu
Office E52-442
Assistant Name Audrey Cabral
Assistant Phone 617-715-5156

Why is End of Life Spending So High? Evidence from cancer patients
(with Dan Zeltzer, Liran Einav, Tzvi Shir, Salomon Stemmer, Ran Balicer)
Review of Economics and Statistics, forthcoming
Online appendices
Replication code

Long Term Care Hospitals: A Case Study in Waste
(with Liran Einav and Neale Mahoney)
Review of Economics and Statistics, 
forthcoming   
Online appendices

A Taste of Their Own Medicine: Guideline Adherence and Access to Expertise
(with Petra Persson, Maria Polyakova, and Jesse M. Shapiro)
American Economic Review: Insights, forthcoming

Out of the Woodwork: Enrollment Spillovers in the Oregon Health Insurance Experiment
(with Adam Sacarny and Katherine Baicker)
American Economic Journal: Economic Policy, 
forthcoming 
Online appendices

Voluntary Regulation: Evidence from Medicare Payment Reform
(with Liran Einav, Yunan Ji and Neale Mahoney)
Quarterly Journal of Economics, 137(1), February 2022, 565-618   
Online appendices
Replication code

The IO of Selection Markets
(with Liran Einav and Neale Mahoney) 
Handbook of Industrial Organization, edited by Kate Ho, Ali Hortacsu, and Alessandro Lizzeri, Elsevier, Volume 5(1), Chapter 14, 389-426, December 2021 

The Challenges of Universal Health Insurance in Developing Countries- Experimental Evidence from Indonesia’s National Health Insurance
(with Abhijit Banerjee, Rema Hanna, Benjamin Olken, Arianna Ornaghi, and Sudarno Sumarto)
American Economic Review, 111(9):3035-3063, September 2021
Online appendices
Replication code

Place-Based Drivers of Mortality - Evidence from Migration
(with Matthew Gentzkow and Heidi Williams)
American Economic Review, 111(8):2697-2735, August 2021
Online appendices
Replication code

Beyond Causality: Additional Benefits of Randomized Controlled Trials for Improving Health Care Delivery   
(with Marcella Alsan) 
Milbank Quarterly, July 2021  

Racial Disparities In Excess All-Cause Mortality During The Early COVID-19 Pandemic Varied Substantially Across States
(With Maria Polyakova, Victoria Udalova, Geoffrey Kocks, Katie Genadek, Keith Finlay)
Health Affairs 40, No 2. 307-316. 2021    
Online appendices

Initial economic damage from the COVID-19 pandemic in the United States is more widespread across ages and geographies than initial mortality impacts
(with Maria Polyakova, Geoffrey Kocks, and Victoria Udalova)
Proceedings of the National Academy of Sciences, 117 (45), 117 (45): 27934-27939. November 10 2020
Online appendices

Welfare Analysis Meets Causal Inference
(with Nathan Hendren)
Journal of Economic Perspectives, 34 (4): 146-67. Fall 2020

Screening and Selection- The Case of Mammograms
(with Liran Einav, Tamar Oostrom, Abigail Ostriker and Heidi Williams)
American Economic Review 110(12)December 2020
Online appendices       
Replication code

Randomized trial shows healthcare payment reform has equal-sized spillover effects on patients not targeted by reform
(with Liran Einav, Yunan Ji, and Neale Mahoney)
PNAS: Proceedings of the National Academy of Sciences of the United States of America. August 2020
Online appendices

A Strategy for Improving U.S. Health Care Delivery - Conducting More Randomized, Controlled Trials
New England Journal of Medicine 382(16). April 2020

Health Care Hotspotting — A Randomized, Controlled Trial 
with Annetta Zhou, Sarah Taubman, and Joseph Doyle)
The New England Journal of Medicine, 2020
Online appendices
Replication code

The Value of Medicaid: Interpreting Results from the Oregon Health Insurance Experiment
(with Nathaniel Hendren and Erzo F.P. Luttmer) 
Journal of Political Economy Vol. 127 No. 6, 2019
Online appendices
Replication code

The Impact of Medicaid Expansion on Voter Participation: Evidence from the Oregon Health Insurance Experiment
(with Katherine Baicker)
Quarterly Journal of Political Science 14(4): 383-400. 2019 
Online appendices
Replication code       

Take-up and Targeting- Experimental Evidence from SNAP
(with Matthew J. Notowidigdo)
Quarterly Journal of Economics 134(3):1505–1556. August 2019
Online appendices   
Replication code

Healthcare Spending and Utilization in Public and Private Medicare
(with Vilsa Curto, Liran Einav, Jonathan Levin and Jay Bhattacharya)
American Economic Journal: Applied Economics 11(2): 302-332. April 2019
Online appendices
Replication code

Subsidizing Health Insurance for Low-Income Adults: Evidence from Massachusetts
(with Nathaniel Hendren and Mark Shepard)
American Economic Review 109(4): 1530-67.  April 2019
Online appendices   
Replication code

Clinical Decision Support for High-Cost Imaging: A Randomized Clinical Trial 
(with Sarah Abraham, Joseph Doyle, Laura Feeney and Sarah Reimer)
PLoS ONE 14(3): e0213373. March 15, 2019
Online appendices     

Provider Incentives and Healthcare Costs- Evidence from Long-Term Care Hospitals
(with Liran Einav and Neale Mahoney)
Econometrica Vol 86(6). November 2018
Replication code

Mandatory Medicare Bundled Payment Program for Lower Extremity Joint Replacement and Discharge to Institutional Poastacute Care: Interim Analysis of the First Year of a 5-Year Randomized Trial
with Yunan Ji, Neale Mahoney and Jonathan Skinner)
Journal of the American Medical Association, September 4, 2018
Online appendices
Replication code

What Does (Formal) Health Insurance Do, And For Whom?
(with Neale Mahoney and Matthew J. Notowidigdo)
Annual Review of Economics, 10:261-86, 2018

Private Provision of Social Insurance: Drug-specific price elasticities and cost sharing in Medicare Part D
(with Liran Einav and Maria Polyakova)
American Economic Journal: Economic Policy, vol 10(3), pages 122-1532018
Online appendices
Replication code

Moral Hazard in Health Insurance: What We Know and How We Know It
(with Liran Einav)
Journal of the European Economic Association, vol 16(4), pages 957-982. 2018

Predictive modeling of U.S. healthcare spending in late life
(with Liran Einav, Sendhil Mullainathan, and Ziad Obermeyer)
Science, 360, 1462-1465. June 2018
Supplementary Material
Programs

Myth and Measurement - The Case of Medical Bankruptcies
(with Carlos Dobkin, Ray Kluender, and Matthew J. Notowidigdo)
New England Journal of Medicine DOI: 10.1056/NEJMp1716604. March 2018 

The Economic Impact of Hospital Admissions
(with Carlos Dobkin, Ray Kluender and Matthew J. Notowidigdo)
American Economic Review, February 2018
Online appendices
Replication code

The Uninsured Do Not Use The Emergency Department More - They Use Other Care Less
(with Ruohua Annetta Zhou, Katherine Baicker and Sarah Taubman)
Health Affairs, 36(12). December 2017
Online appendices   

Effect of Medicaid Coverage on ED Use — Further Evidence from Oregon’s Experiment
(with Katherine Baicker, Heidi Allen and Bill Wright)
Health Affairs, 36(12). December 2017   
Online appendices

Outpatient Office Wait Times and Quality of Care for Medicaid Patients
(with Tamar Oostrom and Liran Einav)
Health Affairs 36(5): 826-832. May 2017
Online appendices

Is American Pet Health Care (Also) Uniquely Inefficient?
(with Liran Einav and Atul Gupta)
American Economic Review Papers and Proceedings 107(5). May 2017 
Online appendices
Replication code

Adjusting Risk Adjustment - Accounting for Variation in Diagnostic Intensity
(with Matthew Gentzkow, Peter Hull and Heidi Williams)
New England Journal of Medicine 376: 608-610 DOI: 10.1056/NEJMp1613238. February 2017
Online appendices
Replication code  

Bunching at the kink: implications for spending responses to health insurance contracts
(with Liran Einav and Paul Schrimpf)
Journal of Public Economics 146: 27-40. February 2017
 

Sources of Geographic Variation in Health Care: Evidence from Patient Migration
(with Matthew Gentzkow and Heidi Williams)
Quarterly Journal of Economics, 131(4): 1681-1726. November 2016
Online appendices
Replication code

Effect of Medicaid Coverage on ED Use - Further Evidence from Oregon's Experiment
(with Sarah Taubman, Heidi Allen, Bill Wright and Katherine Baicker)
New England Journal of Medicine 375: 1505-1507 DOI: 10.1056/NEJMp1609533. October 2016

Healthcare Exceptionalism? Performance and Allocation in the U.S. Healthcare Sector
(with Amitabh Chandra, Adam Sacarny and Chad Syverson)
American Economic Review 106 (8): 2110-2144. August 2016
Online appendices
Replication code 

Productivity Dispersion in Medicine and Manufacturing
(with Amitabh Chandra, Adam Sacarny and Chad Syverson)
American Economic Review Papers and Proceedings 106(5): 99-103. May 2016

Beyond Statistics: The Economic Content of Risk Scores
(with Liran Einav, Ray Kluender and Paul Schrimpf)
American Economic Journal: Applied Economics, 8(2). April 2016
Replication code

Medicare Letters to Curb Overprescribing of Controlled Substances Had No Detectable Effect on Providers
(with Adam Sacarny, David Yokum and Stantanu Agrawal)
Health Affairs 35 (3): 471-479. March 2016

Paying on the margin for medical care: evidence from breast cancer treatments
(with Liran Einav and Heidi Williams)
American Economic Journal: Economic Policy, 8(1). February 2016
Online appendices
Replication code

 

Moral Hazard in Health Insurance: Do Dynamic Incentives Matter?
(with Aviva Aron-Dine, Liran Einav and Mark Cullen)
Review of Economics and Statistics,  97(4): 725-741. October 2015
Online appendices
Replication code

The Response of Drug Expenditure to Non-Linear Contract Design: Evidence from Medicare Part D
(with Liran Einav and Paul Schrimpf)
Quarterly Journal of Economics, 130(2): 841-899. May 2015
Online appendices
Replication code

Randomize Evaluations to improve health care delivery
(with Sarah Taubman)
Science 347 (6223): 720-722. February 2015
Longer version

 

Testing for Asymmetric Information Using 'Unused Observables' in Insurance Markets: Evidence from the U.K. Annuity Market 
(with James Poterba) December 2014
Journal of Risk and Insurance 81: 709-734. December 2014

The Impact of Medicaid on Labor Force Activity and Program Participation: Evidence from the Oregon Health Insurance Experiment
(with Katherine Baicker, Jae Song and Sarah Taubman)
American Economic Review paper and proceedings, May 2014
Online appendices

Medicaid Increases Emergency-Department Use: Evidence from Oregon's Health Insurance Experiment
(with Sarah Taubman, Heidi Allen, Bill Wright,  and Katherine Baicker)
Science, 2 January 2014
Replication code

Income and Health Spending: Evidence from Oil Price Shocks 
(with Daron Acemoglu and Matthew J. Notowidigdo)
Review of Economics and Statistics. October 2013
Online appendices

The Oregon Experiment - Effects of Medicaid on Clinical Outcomes
(with Katherine Baicker, Sarah Taubman, Heidi Allen, Mira Bernstein, Jonathan Gruber, Joseph Newhouse, Eric Schneider, Bill Wright, Alan Zaslavsky, and the Oregon Health Study Group)
New England Journal of Medicine  368 (18), May 2013
Replication code

The RAND Health Insurance Experiment, Three Decades Later
(with Aviva Aron-Dine and Liran Einav)
Journal of Economic Perspectives, 27(1): 197-222, 2013
Online appendices
Replication code

Selection on Moral Hazard in Health Insurance
(with Liran Einav, Stephen Ryan, Paul Schrimpf and Mark Cullen)
American Economic Review 103(1), February, 2013
Online appendices
Replication code

What Good Is Wealth Without Health The Effect of Health on the Marginal Utility of Consumption
(with Erzo Luttmer and Matthew Notowidigdo)
Journal of the European Economic Association 11(s1): 221-258, 2013
Online appendices
Replication code

Social Insurance: Connecting Theory to Data
(with Raj Chetty)
Handbook of Public Economics, Vol. 5: 111-193, 2013

How General Are Risk Preferences? Choices Under Certainty in Different Domains
(with Liran Einav, Iuliana Pascu and Mark Cullen)
American Economic Review 102(6), October, 2606-2638, 2012
Online appendices
Replication code

The Oregon Health Insurance Experiment: Evidence from the First Year
(with Sarah Taubman, Bill Wright, Mira Bernstein, Jonathan Gruber, Joseph P. Newhouse, Heidi Allen, Katherine Baicker, and the Oregon Health Study Group)
Quarterly Journal of Economics 127 (3): 1057-1106. 2012
Online appendices
Replication code

Insuring long-term care in the U.S.
(with Jeffrey Brown)
Journal of Economic Perspectives 25(4): 119-142. 2011
Online appendices

The Effects of Medicaid Coverage - Learning from the Oregon Experiment
(with Katherine Baicker)
The New England Journal of Medicine, July 20, DOI: 10.1056/nejmp1108222. 2011

Selection in Insurance Markets: Theory and Empirics in Pictures
(with Liran Einav)
Journal of Economic Perspectives (Vol 25 (1): 115-138) 2011

Estimating Welfare In Insurance Markets Using Variation in Prices
(with Liran Einav and Mark R. Cullen)
Quarterly Journal of Economics vol. 125 (3): 877-921. 2010
Online appendices

Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence From the U.K. Annuity Market
(with Liran Einav and Paul Schrimpf)
Econometrica (Vol 78(3): 1031-1092) 2010
Replication code

Beyond Testing: Empirical Models of Insurance Markets
(with Liran Einav and Jonathan Levin)
Annual Review of Economics (2): 311-336. 2010

 

Approaches to Estimating the Health State Dependence of the Utility Function
(with Erzo F.P. Luttmer and Matthew J. Notowidigdo)
American Economic Review Papers and Proceedings 99(2): 116-121. 2009

EZ Tax: Tax Salience and Tax Rates
Quarterly Journal of Economics 124(3): 969-1010. 2009
Online appendices

The Private Market for Long-Term Care Insurance in the U.S.:A Review of the Evidence
(with Jeffrey R. Brown)
Journal of Risk and Insurance 76(1): 5-29. 2009

Redistribution By Insurance Market Regulation: Analyzing a Ban on Gender-Based Retirement Annuities
(with James Poterba and Casey Rothschild)
Journal of Financial Economics 91(1): 35-58. 2009

Input and Technology Choices in Regulated Industries: Evidence from the Health Care Sector
(with Daron Acemoglu)
Journal of Political Economy 116(5): 837-880. 2008
Online appendices

Preference Heterogenity and Insurance Markets: Explaining a Puzzle of Insurance
(with David Cutler and Kathleen McGarry)
American Economic Review Papers and Proceedings, 98(2): 157-162. 2008

What Did Medicare Do? The Initial Impact of Medicare on Mortality and Out of Pocket Medical Spending
(with Robin McKnight)
Journal of Public Economics 92: 1644-1669. 2008

The Interaction of Public and Private Insurance: Medicaid and the Long-Term Insurance Market
(with Jeffrey Brown)
American Economic Review 98(3): 1083-11022008
Online appendices
Replication code
 

Why Is the Market for Long Term Care Insurance so Small
(with Jeffrey Brown)
Journal of Public Economics 91(10): 1967-1991. 2007

Medicaid Crowd-Out of Private Long Term Care Insurance Demand: Evidence from the Health and Retirement Survey
(with Jeffrey Brown and Norma Coe)
Tax Policy and the Economy, 21:1-34. 2007

The Aggregate Effects of Health Insurance: Evidence from the Introduction of Medicare
Quarterly Journal of Economics, 122(1): 1-37. 2007

Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market
(with Kathleen McGarry)
American Economic Review September 96(4): 938-958. 2006
Replication code

Did Medicare Induce Pharmaceutical Innovation?
(with Daron Acemoglu, David Cutler, and Joshua Linn)
American Economic Review Papers and Proceedings, 96(2): 103-107. 2006

Dynamic Inefficiencies in Insurance Markets:  Evidence from Long-Term Care Insurance
(with Kathleen McGarry and Amir Sufi)
American Economic Review Papers and Proceedings, 95:224-228. 2005

The Effect of Tax Subsides to Employer-Provided Supplementary Health Insurance: Evidence from Canada
Journal of Public Economics 84(3): 305-340. 2002

Selection Effects in the United Kingdom Individual Annuities Market
(with James Poterba)
The Economic Journal 112(476): 28-50. 2002

The IO of Selection Markets
(with Liran Einav and Neale Mahoney) 
Handbook of Industrial Organization, edited by Kate Ho, Ali Hortacsu, and Alessandro Lizzeri, Elsevier, Volume 5(1), Chapter 14, 389-426, December 2021

The Challenges of Universal Health Insurance in Developing Countries- Experimental Evidence from Indonesia’s National Health Insurance
(with Abhijit Banerjee, Rema Hanna, Benjamin Olken, Arianna Ornaghi, and Sudarno Sumarto)
American Economic Review, 111(9):3035-3063, September 2021
Online appendices
Replication code 

Subsidizing Health Insurance for Low-Income Adults: Evidence from Massachusetts
(with Nathaniel Hendren and Mark Shepard)
American Economic Review 109(4): 1530-67.  April 2019
Online appendices
Replication code

Market Design in Regulated Health Insurance Markets: Risk Adjustment vs. Subsidies
(with Liran Einav and Pietro Tebaldi)
February 2019 

Moral Hazard in Health Insurance: What We Know and How We Know It
(with Liran Einav)
Journal of the European Economic Association, 
vol 16(4), pages 957-982. 2018

Bunching at the kink: implications for spending responses to health insurance contracts
(with Liran Einav and Paul Schrimpf)
Journal of Public Economics 146: 27-40. February 2017

Beyond Statistics: The Economic Content of Risk Scores
(with Liran Einav, Ray Kluender and Paul Schrimpf)
American Economic Journal: Applied Economics, 8(2). April 2016
Replication code

Moral Hazard in Health Insurance: Do Dynamic Incentives Matter?
(with Aviva Aron-Dine, Liran Einav and Mark Cullen)
Review of Economics and Statistics,  97(4): 725-741. October 2015
Online appendices
Replication code

The Response of Drug Expenditure to Non-Linear Contract Design: Evidence from Medicare Part D
(with Liran Einav and Paul Schrimpf)
Quarterly Journal of Economics, 130(2): 841-899. May 2015
Online appendices
Replication code

Selection on Moral Hazard in Health Insurance
(with Liran Einav, Stephen Ryan, Paul Schrimpf and Mark Cullen)
American Economic Review 103(1), February, 2013
Online appendices
Replication code

Social Insurance: Connecting Theory to Data
(with Raj Chetty)
Handbook of Public Economics, Vol. 5: 111-193, 2013

Selection in Insurance Markets: Theory and Empirics in Pictures
(with Liran Einav)
Journal of Economic Perspectives (Vol 25 (1): 115-138) 2011

Insuring long-term care in the U.S.
(with Jeffrey Brown)
Journal of Economic Perspectives 25(4): 119-142. 2011
Online appendices

Beyond Testing: Empirical Models of Insurance Markets
(with Liran Einav and Jonathan Levin)
Annual Review of Economics (2): 311-336. 2010

Estimating Welfare In Insurance Markets Using Variation in Prices
(with Liran Einav and Mark R. Cullen)
Quarterly Journal of Economics vol. 125 (3): 877-921. 2010
Online appendices

Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence From the U.K. Annuity Market
(with Liran Einav and Paul Schrimpf)
Econometrica (Vol 78(3): 1031-1092) 2010
Replication code

The Private Market for Long-Term Care Insurance in the U.S.:A Review of the Evidence
(with Jeffrey R. Brown)
Journal of Risk and Insurance 76(1): 5-29. 2009

Preference Heterogenity and Insurance Markets: Explaining a Puzzle of Insurance
(with David Cutler and Kathleen McGarry)
American Economic Review Papers and Proceedings, 98(2): 157-162. 2008

Why Is the Market for Long Term Care Insurance so Small
(with Jeffrey Brown)
Journal of Public Economics 91(10): 1967-1991. 2007

Multiple Dimensions of Private Information: Evidence from the Long-Term Care Insurance Market
(with Kathleen McGarry)
American Economic Review September 96(4): 938-958. 2006
Replication code

Dynamic Inefficiencies in Insurance Markets:  Evidence from Long-Term Care Insurance
(with Kathleen McGarry and Amir Sufi)
American Economic Review Papers and Proceedings, 95:224-228. 2005

Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market
(with James Poterba)
Journal of Political Economy 112(1) Part 1: 183-208. 2004

Minimum Standards, Insurance Regulation and Adverse Selection: Evidence from the Medigap Market
Journal of Public Economics 88(12): 2515-2547. 2004

The Interaction of Partial Public Insurance Programs and Residual Private Insurance Markets: Evidence from the US Medicare Program
Journal of Health Economics, 23(1): 1-24. 2004

Selection Effects in the United Kingdom Individual Annuities Market
(with James Poterba)
The Economic Journal 112(476): 28-50. 2002

The Challenges of Universal Health Insurance in Developing Countries- Experimental Evidence from Indonesia’s National Health Insurance
(with Abhijit Banerjee, Rema Hanna, Benjamin Olken, Arianna Ornaghi, and Sudarno Sumarto)
American Economic Review, 111(9):3035-3063, September 2021
Online appendices
Replication code

Out of the Woodwork: Enrollment Spillovers in the Oregon Health Insurance Experiment
(with Adam Sacarny and Katherine Baicker)
American Economic Journal: Economic Policy, 
forthcoming 
Online appendices

The Value of Medicaid: Interpreting Results from the Oregon Health Insurance Experiment
(with Nathaniel Hendren and Erzo F.P. Luttmer) 
Journal of Political Economy Vol. 127 No. 6, 2019
Online appendices
Replication code

Subsidizing Health Insurance for Low-Income Adults: Evidence from Massachusetts
(with Nathaniel Hendren and Mark Shepard)
American Economic Review 109(4): 1530-67.  April 2019
Online appendices   
Replication code

The Impact of Medicaid Expansion on Voter Participation: Evidence from the Oregon Health Insurance Experiment
(with Katherine Baicker)
Quarterly Journal of Political Science 14(4): 383-400. 2019 
Online appendices
Replication code 

What Does (Formal) Health Insurance Do, And For Whom?
(with Neale Mahoney and Matthew J. Notowidigdo)
Annual Review of Economics, 10:261-86, 2018

The Economic Impact of Hospital Admissions
(with Carlos Dobkin, Ray Kluender and Matthew J. Notowidigdo)
American Economic Review, February 2018
Online appendices
Replication code

The Uninsured Do Not Use The Emergency Department More - They Use Other Care Less
(with Ruohua Annetta Zhou, Katherine Baicker and Sarah Taubman)
Health Affairs, 36(12). December 2017
Online appendices   

Effect of Medicaid Coverage on ED Use — Further Evidence from Oregon’s Experiment
(with Katherine Baicker, Heidi Allen and Bill Wright)
Health Affairs, 36(12). December 2017   
Online appendices

Outpatient Office Wait Times and Quality of Care for Medicaid Patients
(with Tamar Oostrom and Liran Einav)
Health Affairs 36(5): 826-832. May 2017
Online appendices

Adjusting Risk Adjustment - Accounting for Variation in Diagnostic Intensity
(with Matthew Gentzkow, Peter Hull and Heidi Williams)
New England Journal of Medicine 376: 608-610 DOI: 10.1056/NEJMp1613238. February 2017
Online appendices
Replication code  

Medicaid Increases Emergency-Department Use: Evidence from Oregon's Health Insurance Experiment
(with Sarah Taubman, Heidi Allen, Bill Wright,  and Katherine Baicker)
Science, 2 January 2014
Replication code

The Impact of Medicaid on Labor Force Activity and Program Participation: Evidence from the Oregon Health Insurance Experiment
(with Katherine Baicker, Jae Song and Sarah Taubman)
American Economic Review paper and proceedings, May 2014
Online appendices

The Oregon Experiment - Effects of Medicaid on Clinical Outcomes
(with Katherine Baicker, Sarah Taubman, Heidi Allen, Mira Bernstein, Jonathan Gruber, Joseph Newhouse, Eric Schneider, Bill Wright, Alan Zaslavsky, and the Oregon Health Study Group)
New England Journal of Medicine  368 (18), May 2013
Replication code

The RAND Health Insurance Experiment, Three Decades Later
(with Aviva Aron-Dine and Liran Einav)
Journal of Economic Perspectives, 27(1): 197-222, 2013
Online appendices
Replication code

What Good Is Wealth Without Health The Effect of Health on the Marginal Utility of Consumption
(with Erzo Luttmer and Matthew Notowidigdo)
Journal of the European Economic Association 11(s1): 221-258, 2013
Online appendices
Replication code

The Oregon Health Insurance Experiment: Evidence from the First Year
(with Sarah Taubman, Bill Wright, Mira Bernstein, Jonathan Gruber, Joseph P. Newhouse, Heidi Allen, Katherine Baicker, and the Oregon Health Study Group)
Quarterly Journal of Economics 127 (3): 1057-1106. 2012
Online appendices
Replication code

The Effects of Medicaid Coverage - Learning from the Oregon Experiment
(with Katherine Baicker)
The New England Journal of Medicine, July 20, DOI: 10.1056/nejmp1108222. 2011

Approaches to Estimating the Health State Dependence of the Utility Function
(with Erzo F.P. Luttmer and Matthew J. Notowidigdo)
American Economic Review Papers and Proceedings 99(2): 116-121. 2009

What Did Medicare Do? The Initial Impact of Medicare on Mortality and Out of Pocket Medical Spending
(with Robin McKnight)
Journal of Public Economics 92: 1644-1669. 2008

The Aggregate Effects of Health Insurance: Evidence from the Introduction of Medicare
Quarterly Journal of Economics, 122(1): 1-37. 2007

Targeting Precision Medicine: Evidence from Prenatal Screening
(with Peter Conner, Liran Einav, Petra Persson, and Heidi Williams)
July 2022

A Taste of Their Own Medicine: Guideline Adherence and Access to Expertise
(with Petra Persson, Maria Polyakova, and Jesse M. Shapiro)
American Economic Review: Insights, forthcoming

Voluntary Regulation: Evidence from Medicare Payment Reform
(with Liran Einav, Yunan Ji and Neale Mahoney)
Quarterly Journal of Economics, 137(1), February 2022, 565-618   
Online appendices
Replication code

Why is End of Life Spending So High? Evidence from cancer patients
(with Dan Zeltzer, Liran Einav, Tzvi Shir, Salomon Stemmer, Ran Balicer)
Review of Economics and Statistics, forthcoming
Online appendices
Replication code

Screening and Selection- The Case of Mammograms
(with Liran Einav, Tamar Oostrom, Abigail Ostriker and Heidi Williams)
American Economic Review 110(12)December 2020
Online appendices       
Replication code

Randomized trial shows healthcare payment reform has equal-sized spillover effects on patients not targeted by reform
(with Liran Einav, Yunan Ji, and Neale Mahoney)
PNAS: Proceedings of the National Academy of Sciences of the United States of America. August 2020
Online appendices

Health Care Hotspotting — A Randomized, Controlled Trial 
with Annetta Zhou, Sarah Taubman, and Joseph Doyle)
The New England Journal of Medicine, 2020
Online appendices
Replication code

Healthcare Spending and Utilization in Public and Private Medicare
(with Vilsa Curto, Liran Einav, Jonathan Levin and Jay Bhattacharya)
American Economic Journal: Applied Economics 11(2): 302-332. April 2019
Online appendices
Replication code

Long Term Care Hospitals: A Case Study in Waste
(with Liran Einav and Neale Mahoney)
Review of Economics and Statistics, 
forthcoming   
Online appendices

Clinical Decision Support for High-Cost Imaging: A Randomized Clinical Trial 
(with Sarah Abraham, Joseph Doyle, Laura Feeney and Sarah Reimer)
PLoS ONE 14(3): e0213373. March 15, 2019
Online appendices     

Provider Incentives and Healthcare Costs- Evidence from Long-Term Care Hospitals
(with Liran Einav and Neale Mahoney)
Econometrica Vol 86(6). November 2018
Replication code

Predictive modeling of U.S. healthcare spending in late life
(with Liran Einav, Sendhil Mullainathan, and Ziad Obermeyer)
Science, 360, 1462-1465. June 2018
Supplementary Material
Programs

Mandatory Medicare Bundled Payment Program for Lower Extremity Joint Replacement and Discharge to Institutional Poastacute Care: Interim Analysis of the First Year of a 5-Year Randomized Trial
with Yunan Ji, Neale Mahoney and Jonathan Skinner)
Journal of the American Medical Association, September 4, 2018
Online appendices
Replication code

Adjusting Risk Adjustment - Accounting for Variation in Diagnostic Intensity
(with Matthew Gentzkow, Peter Hull and Heidi Williams)
New England Journal of Medicine 376: 608-610 DOI: 10.1056/NEJMp1613238. February 2017
Online appendices
Replication code  

Is American Pet Health Care (Also) Uniquely Inefficient?
(with Liran Einav and Atul Gupta)
American Economic Review Papers and Proceedings 107(5). May 2017 
Online appendices
Replication code

Medicare Letters to Curb Overprescribing of Controlled Substances Had No Detectable Effect on Providers
(with Adam Sacarny, David Yokum and Stantanu Agrawal)
Health Affairs 35 (3): 471-479. March 2016

Productivity Dispersion in Medicine and Manufacturing
(with Amitabh Chandra, Adam Sacarny and Chad Syverson)
American Economic Review Papers and Proceedings 106(5): 99-103. May 2016

Healthcare Exceptionalism? Performance and Allocation in the U.S. Healthcare Sector
(with Amitabh Chandra, Adam Sacarny and Chad Syverson)
American Economic Review 106 (8): 2110-2144. August 2016
Online appendices
Replication code 

Sources of Geographic Variation in Health Care: Evidence from Patient Migration
(with Matthew Gentzkow and Heidi Williams)
Quarterly Journal of Economics, 131(4): 1681-1726. November 2016
Online appendices
Replication code

Moral Hazard in Health Insurance: Do Dynamic Incentives Matter?
(with Aviva Aron-Dine, Liran Einav and Mark Cullen)
Review of Economics and Statistics,  97(4): 725-741. October 2015
Online appendices
Replication code

The Response of Drug Expenditure to Non-Linear Contract Design: Evidence from Medicare Part D
(with Liran Einav and Paul Schrimpf)
Quarterly Journal of Economics, 130(2): 841-899. May 2015
Online appendices
Replication code

Income and Health Spending: Evidence from Oil Price Shocks 
(with Daron Acemoglu and Matthew J. Notowidigdo)
Review of Economics and Statistics. October 2013
Online appendices

Selection on Moral Hazard in Health Insurance
(with Liran Einav, Stephen Ryan, Paul Schrimpf and Mark Cullen)
American Economic Review 103(1), February, 2013
Online appendices
Replication code

Input and Technology Choices in Regulated Industries: Evidence from the Health Care Sector
(with Daron Acemoglu)
Journal of Political Economy 116(5): 837-880. 2008
Online appendices

The Aggregate Effects of Health Insurance: Evidence from the Introduction of Medicare
Quarterly Journal of Economics, 122(1): 1-37. 2007

Did Medicare Induce Pharmaceutical Innovation?
(with Daron Acemoglu, David Cutler, and Joshua Linn)
American Economic Review Papers and Proceedings, 96(2): 103-107. 2006

Static and Dynamic Effects of Health Policy:  Evidence from the Vaccine Industry
Quarterly Journal of Economics 119(2): 527-564. 2004

The Challenges of Universal Health Insurance in Developing Countries- Experimental Evidence from Indonesia’s National Health Insurance
(with Abhijit Banerjee, Rema Hanna, Benjamin Olken, Arianna Ornaghi, and Sudarno Sumarto)
American Economic Review, 111(9):3035-3063, September 2021
Online appendices
Replication code

Randomized trial shows healthcare payment reform has equal-sized spillover effects on patients not targeted by reform
(with Liran Einav, Yunan Ji, and Neale Mahoney)
PNAS: Proceedings of the National Academy of Sciences of the United States of America. August 2020 
Online appendices
Replication code  

Subsidizing Health Insurance for Low-Income Adults: Evidence from Massachusetts
(with Nathaniel Hendren and Mark Shepard)
American Economic Review 109(4): 1530-67.  April 2019
Online appendices
Replication code

Market Design in Regulated Health Insurance Markets: Risk Adjustment vs. Subsidies
(with Liran Einav and Pietro Tebaldi)
February 2019

Private Provision of Social Insurance: Drug-specific price elasticities and cost sharing in Medicare Part D
(with Liran Einav and Maria Polyakova)
American Economic Journal: Economic Policy, vol 10(3), pages 122-1532018
Online appendices
Replication code

Paying on the margin for medical care: evidence from breast cancer treatments
(with Liran Einav and Heidi Williams)
American Economic Journal: Economic Policy, 8(1). February 2016
Online appendices
Replication code

The Response of Drug Expenditure to Non-Linear Contract Design: Evidence from Medicare Part D
(with Liran Einav and Paul Schrimpf)
Quarterly Journal of Economics, 130(2): 841-899. May 2015
Online appendices
Replication code 

Selection on Moral Hazard in Health Insurance
(with Liran Einav, Stephen Ryan, Paul Schrimpf and Mark Cullen)
American Economic Review 103(1), February, 2013
Online appendices
Replication code

Social Insurance: Connecting Theory to Data
(with Raj Chetty)
Handbook of Public Economics, Vol. 5: 111-193, 2013

Insuring long-term care in the U.S.
(with Jeffrey Brown)
Journal of Economic Perspectives 25(4): 119-142. 2011
Online appendices

Estimating Welfare In Insurance Markets Using Variation in Prices
(with Liran Einav and Mark R. Cullen)
Quarterly Journal of Economics vol. 125 (3): 877-921. 2010
Online appendices

Optimal Mandates and The Welfare Cost of Asymmetric Information: Evidence From the U.K. Annuity Market
(with Liran Einav and Paul Schrimpf)
Econometrica (Vol 78(3): 1031-1092) 2010
Replication code

The Private Market for Long-Term Care Insurance in the U.S.:A Review of the Evidence
(with Jeffrey R. Brown)
Journal of Risk and Insurance 76(1): 5-29. 2009

The Interaction of Public and Private Insurance: Medicaid and the Long-Term Insurance Market
(with Jeffrey Brown)
American Economic Review 98(3): 1083-11022008
Online appendices
Replication code

Medicaid Crowd-Out of Private Long Term Care Insurance Demand: Evidence from the Health and Retirement Survey
(with Jeffrey Brown and Norma Coe)
Tax Policy and the Economy, 21:1-34. 2007

Why Is the Market for Long Term Care Insurance so Small
(with Jeffrey Brown)
Journal of Public Economics 91(10): 1967-1991. 2007

Minimum Standards, Insurance Regulation and Adverse Selection: Evidence from the Medigap Market
Journal of Public Economics 88(12): 2515-2547. 2004

The Interaction of Partial Public Insurance Programs and Residual Private Insurance Markets: Evidence from the US Medicare Program
Journal of Health Economics, 23(1): 1-24. 2004

The Effect of Tax Subsides to Employer-Provided Supplementary Health Insurance: Evidence from Canada
Journal of Public Economics 84(3): 305-340. 2002

The IO of Selection Markets
(with Liran Einav and Neale Mahoney) 
Handbook of Industrial Organization, edited by Kate Ho, Ali Hortacsu, and Alessandro Lizzeri, Elsevier, Volume 5(1), Chapter 14, 389-426, December 2021 

Beyond Causality: Additional Benefits of Randomized Controlled Trials for Improving Health Care Delivery
(with Marcella Alsan)
Milbank Q, July 2021    

Welfare Analysis Meets Causal Inference
(with Nathan Hendren)
Journal of Economic Perspectives, 34 (4): 146-67. Fall 2020

In Praise of Moderation: Suggestions for the Scope and Use of Pre-Analysis Plans for RCTs in Economics
National Bureau of Economic Research, NBER Working Paper Series, April 2020

A Strategy for Improving U.S. Health Care Delivery - Conducting More Randomized, Controlled Trials
New England Journal of Medicine 382(16). April 2020

What Does (Formal) Health Insurance Do, And For Whom?
(with Neale Mahoney and Matthew J. Notowidigdo)
Annual Review of Economics, 10:261-86, 2018

Moral Hazard in Health Insurance: What We Know and How We Know It
(with Liran Einav)
Journal of the European Economic Association, vol 16(4), pages 957-982. 2018

Randomize Evaluations to improve health care delivery
(with Sarah Taubman)
Science 347 (6223): 720-722. February 2015
Longer version

Social Insurance: Connecting Theory to Data
(with Raj Chetty)
Handbook of Public Economics, Vol. 5: 111-193, 2013

The RAND Health Insurance Experiment, Three Decades Later
(with Aviva Aron-Dine and Liran Einav)
Journal of Economic Perspectives, 27(1): 197-222, 2013
Online appendices
Replication code

Insuring long-term care in the U.S.
(with Jeffrey Brown)
Journal of Economic Perspectives 25(4): 119-142. 2011
Online appendices

The Effects of Medicaid Coverage - Learning from the Oregon Experiment
(with Katherine Baicker)
The New England Journal of Medicine, July 20, DOI: 10.1056/nejmp1108222. 2011

Selection in Insurance Markets: Theory and Empirics in Pictures
(with Liran Einav)
Journal of Economic Perspectives (Vol 25 (1): 115-138) 2011

Beyond Testing: Empirical Models of Insurance Markets
(with Liran Einav and Jonathan Levin)
Annual Review of Economics (2): 311-336. 2010

The Private Market for Long-Term Care Insurance in the U.S.:A Review of the Evidence
(with Jeffrey R. Brown)
Journal of Risk and Insurance 76(1): 5-29. 2009

Place-Based Drivers of Mortality - Evidence from Migration
(with Matthew Gentzkow and Heidi Williams)
American Economic Review, 111(8):2697-2735, August 2021
Online appendices
Replication code

Racial Disparities In Excess All-Cause Mortality During The Early COVID-19 Pandemic Varied Substantially Across States
(With Maria Polyakova, Victoria Udalova, Geoffrey Kocks, Katie Genadek, Keith Finlay)
Health Affairs 40, No 2. 307-316. 2021    
Online appendices

Initial economic damage from the COVID-19 pandemic in the United States is more widespread across ages and geographies than initial mortality impacts
(with Maria Polyakova, Geoffrey Kocks, and Victoria Udalova)
Proceedings of the National Academy of Sciences, 117 (45), 117 (45): 27934-27939. November 10 2020
Online appendices

Take-up and Targeting- Experimental Evidence from SNAP
(with Matthew J. Notowidigdo)
Quarterly Journal of Economics 134(3):1505–1556. August 2019
Online appendices   
Replication code

Myth and Measurement - The Case of Medical Bankruptcies
(with Carlos Dobkin, Ray Kluender, and Matthew J. Notowidigdo)
New England Journal of Medicine DOI: 10.1056/NEJMp1716604. March 2018 

How General Are Risk Preferences? Choices Under Certainty in Different Domains
(with Liran Einav, Iuliana Pascu and Mark Cullen)
American Economic Review 102(6), October, 2606-2638, 2012
Online appendices
Replication code

EZ Tax: Tax Salience and Tax Rates
Quarterly Journal of Economics 124(3): 969-1010. 2009
Online appendices

Targeting Precision Medicine: Evidence from Prenatal Screening
(with Peter Conner, Liran Einav, Petra Persson, and Heidi Williams)
July 2022

Producing Health: Measuring Value Added of Nursing Homes
(with Liran Einav and Neale Mahoney)
February 2022

A Taste of Their Own Medicine: Guideline Adherence and Access to Expertise
NBER Working Paper 29356 (with Petra Persson, Maria Polyakova and Jesse Shapiro)
October 2021

What Drives Prescription Opioid Abuse? Evidence from Migration
(with Matthew Gentzkow, Dean Li and Heidi Williams)
July 2021

Market Design in Regulated Health Insurance Markets: Risk Adjustment vs. Subsidies
(with Liran Einav and Pietro Tebaldi)
February 2019
 

Beyond Causality: Additional Benefits of Randomized Controlled Trials for Improving Health Care Delivery
(with Marcella Alsan)
Milbank Q, July 2021    

The Impact of Bundled Payments on Medicare Spending, Utilization, and Quality in the United States
(with Yunan Ji, Neale Mahoney and Jonathan Skinner)
Original investigation
Paper
Intervention start date: 2016

Clinical Decision Support for Radiology Imaging
(with Sarah Abraham, Joseph Doyle, Laura Feeney and Sarah Reimer)
Paper
Intervention start date: 2016

SNAP Take-up Evaluation
with Matthew Notowidigdo)
Paper
Intervention start date: 2015

The challenges of universal health insurance in developing countries- Experimenal Evidence from Indonesia's National Health Insurance
(with Abhijit Banerjee, Rema Hanna, Benjamin Olken, Arianna Ornaghi, and Sudarno Sumarto)
Paper
Intervention Start Date: 2015

Health Care Hotspotting
(with Jeffrey Brenner, Joseph Doyle, Sarah Taumban, and Annetta Zhou)
Paper
Intervention start date: 2014

Reducing Inappropriate Prescribing of Controlled Substances
(with Shantanu Agrawal, Adam Sacarny, and David Yokum)
Paper
Intervention start date: 2014

Oregon Health Insurance Experiment
(co PIs: Amy Finkelstein and Katherine Baicker)
J-PAL Policy Briefcase
 

Re-Analysis of the RAND Health Insurance Experiment
(with Aviva Aron-Dine and Liran Einav)

For more on the work of the Abdul Latif Jameel Poverty Action Lab's North America regional office, click here.

Bio

Amy Finkelstein is the John & Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology. She is the co-founder and co-Scientific Director of J-PAL North America, a research center at MIT that encourages and facilitates randomized evaluations of important domestic policy issues. She is also the founding Editor of American Economic Review: Insights and the co-Director of the Health Care Program at the National Bureau of Economic Research. She is a member of the National Academy of Sciences and of the Institute of Medicine, and a fellow of the American Academy of Arts and Sciences and of the Econometric Society.

Dr. Finkelstein’s areas of specialization are public finance and health economics. Her research focuses on market failures and government intervention in insurance markets, and on the economics of healthcare delivery. From 2008-2020 she served as co-Director of the Public Economics Program at the National Bureau of Economic Research.

She has received numerous awards and fellowships for her research, including a MacArthur Foundation Fellowship (2018) and the John Bates Clark Medal (2012), given annually to the economist under the age of 40 who is judged to have made the most significant contribution to economic thought and knowledge. Other awards include an NIH MERIT Award (2020), the American Society of Health Economists’ ASHEcon Medal (2014), awarded biennially to the economist age 40 or under who has made the most significant contributions to the field of health economics, a Presidential Early Career Award for Scientists and Engineers (2009), the American Economic Association’s Elaine Bennett Research Prize (2008) and a Sloan Research Fellowship (2007). She has also received awards for graduate student teaching and graduate student advising at MIT.

She received her PhD in Economics from MIT in 2001, an M.Phil in Economics from Oxford in 1997 where she studied as a Marshall Scholar, and an A.B. in Government summa cum laude from Harvard in 1995. Prior to joining the MIT faculty in 2005, she was a Junior Fellow at the Harvard Society of Fellows.