the market structure and institutional environment (separation of diagnosis and treatment, liability, verifiability …, reputational concerns, competition between experts and second opinions). We also describe recent developments in this area of …

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

In markets for credence goods - such as health care or repair services - fraudulent behavior by better informed experts … is a common problem. Our model studies how four common features shape experts' provision behavior in credence goods … markets: (i) diagnostic uncertainty of experts; (ii) insurance coverage of consumers; (iii) malpractice payments for treatment …