This Paper studies the consequences of price discrimination in a market for experts’ services. In the case of experts …

fiscal policy and reject the hypothesized value of the multiplier. In some cases, autocoherence induces the experts to make …

This paper studies price competition between experts and discounters in a market for credence goods. While experts can … giving any advice. The unobservability of diagnosis effort induces experts to use their tariffs as signaling devices. This … makes them vulnerable to competition by discounters. We explore the conditions under which experts survive competition by …

that the equilibrium behaviour of experts and consumers in credence goods markets sensitively depends on the details of the …

technically unfeasible or does not respond to a genuine customer need. To screen good ideas the entrepreneur needs to hire experts … complementary. In such cases the entrepreneur can form a partnership with the experts. Yet very valuable ideas cannot be shared …

-term limit to governments. The predictions of this theory are consistent with a number of empirical regularities on the …