Schmitt, Stefanie Yvonne; Bruckner, Dominik - 2022
of the goods. Second, only some consumers have the expertise to infer the true levels of deficiencies once they are aware … of the existence of deficiencies. We show that the interplay of awareness and expertise in a market affects firms …’ incentives to disclose. In particular, we demonstrate that more awareness and/or expertise in a market does not universally lead …