Consider an environment where long-lived experts repeatedly interact with short-lived customers. In periods when an … appropriate. We find that there exists an equilibrium in which experts always play truthfully and choose the customer's preferred …If experts have private information regarding their own payoffs as well as what treatments are appropriate, then there …

combines these methods by using observed decisions by experts to reduce the demensionality of the feature space and allow the … categorization of decisions by their propensity score. The fact that the human capital of experts is heterogeneous implies that …

We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …

This paper develops a theory of dynamic pessimism and its impact on asset prices. Notions of time-varying pessimism …