The Medicare prescription drug program was a design disaster because it maximized choice—40 to 60 options per state varying by state—and assigned people who failed to choose to a plan randomly rather than via sensible guided defaults, offering no help to seniors trying to identify the best plan.

causalpending

Speaker

Richard Thaler

Evidence Quote

“there are forty to sixty options in each state”

Source

Richard Thaler on Libertarian Paternalism 11/6/2006— EconTalk
Created: 6/13/2026, 7:01:05 PM

My Notes

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