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Early Pilots of Medicare Auctions Bring No Solace to Auction Experts

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Abstract

Our Economists’ Voice column of October 2010 summarized the severe problems with the current and proposed Medicare auctions. The column was based on a careful reading and analysis of the auction rules. Since that time we and other auction experts have studied the Medicare auctions with theory, experiment, and the limited amount of field data that the Centers for Medicare and Medicaid Services (CMS) has made available. This substantial body of evidence is available at www.cramton.umd.edu/papers/health-care. The evidence strongly supports our preliminary analysis that the auction program is fatally flawed and must be fixed.

Suggested Citation

  • Peter Cramton, 2012. "Early Pilots of Medicare Auctions Bring No Solace to Auction Experts," Papers of Peter Cramton 11ckev, University of Maryland, Department of Economics - Peter Cramton, revised 2012.
    • Handle: RePEc:pcc:pccumd:11ckev
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    File URL: https://www.cramton.umd.edu/papers2010-2014/cramton-katzman-reply-to-hoerger.pdf
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    More about this item

    Keywords

    Medicare auctions; health care auctions; procurement auctions;
    All these keywords.

    JEL classification:

    • D44 - Microeconomics - - Market Structure, Pricing, and Design - - - Auctions
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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