This paper argues that firms have an informational advantage over consumers in selecting arbitrators in consumer … arbitration. We document how the selection process impacts arbitration outcomes by studying roughly 9,000 consumer arbitration …

question of whether increased occupational licensing of mortgage brokers improves consumer outcomes is theoretically ambiguous … consumer market for mortgages. We find that one typical regulation--the requirement in many states that mortgage brokers … and consumer market outcomes. In particular, we find that tighter bonding/net worth requirements are associated with …

Neoclassical theory postulates that preferences between two goods are independent of the consumer's current …

consumers have similar preferences to the principal, and those where consumer preferences diverge from those of the principal …. In the former case, allowing consumer feedback improves allocations, and increasing consumer information is unambiguously …

We study the effects of consumer information on equlibrium market prices and observable product quality in the market … effects of information provision in a model of vertical differentiation. We show conditions in which increased consumer …