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 …

In this paper, we consider a committee of experts that decides whether to approve or reject a proposed innovation on …

-motivated reputation building may be important for explaining dynamics in experts' policy choices. -- signalling ; learning ; monetary … data. The motivation for signalling is consistent with wanting to control inflation expectations, but not career concerns …