aspect of the services of experts (e.g., of doctors, lawyers, and accountants), and the role that voluntary pro bono work … might play. Expert services have un- verifiable quality to non-experts and are subject to moral hazard. Experts who cheat … their customers should crowd out experts who do not, resulting in low trust, prestige, and wages. We ask how pro bono work …

In credence goods markets, experts have better information about the appropriate quality of treatment than their … customers. Experts may exploit their informational advantage by defrauding customers. Market institutions have been shown … situation in which experts are heterogeneous in their diagnostic abilities. We find that efficient market outcomes are always …

goods, where prices are regulated by an authority, physicians act as experts. Due to their informational advantage …

also uncover an important interaction effect: if consumers are insured, experts invest less in diagnostic precision. We …

Do experts adjust their policy recommendations when the facts change? We conduct a large-scale randomized experiment … among 1,224 economic experts across 109 countries that includes two treatments. The first treatment is the geographic and … randomly assigned information treatment that informs experts about the past macroeconomic performance of their country. We find …