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as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …
Persistent link: https://www.econbiz.de/10013153013
contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest …
Persistent link: https://www.econbiz.de/10013021526
experts make the predicted promise; (2) proper promises induce consumer-friendly behavior; and (3) higher interaction prices …
Persistent link: https://www.econbiz.de/10013146471
In his classic article "An Essay on Bargaining" Schelling (1956) argues that ignorance might actually be strength rather than weakness. We test and confirm Schelling's conjecture in a simple take-it-or-leave bargaining experiment where the proposer can choose between two possible offers. Option...
Persistent link: https://www.econbiz.de/10013118529
It is sometimes said that an effect of the COVID-19 pandemic will be heightened appreciation of the importance of scientific research and expertise. We test this hypothesis by examining how exposure to previous epidemics affected trust in science and scientists. Building on the "impressionable...
Persistent link: https://www.econbiz.de/10013314974
Evidence on behavior of experts in credence goods markets raises an important causality issue: Do "fair prices" induce … "good behavior", or do "good experts" post "fair prices"? To answer this question we propose and test a model with three … selection and fixed effects regressions support the model's predictions and show that causality goes from good experts to fair …
Persistent link: https://www.econbiz.de/10013107208
The Peter Principle captures two stylized facts about hierarchies: first, promotions often placeemployees into jobs for which they are less well suited than for that previously held. Second,demotions are extremely rare...
Persistent link: https://www.econbiz.de/10005862318
Trait-based personality psychology and economics have taken different approaches to understanding individual differences, with the former emphasizing variables derived from the factor analysis of trait assessments, and the latter emphasizing variables derived from formal decision theory. In a...
Persistent link: https://www.econbiz.de/10013103029
and forgiving. We further find clear evidence for the exchange of private information - the central role ascribed to …
Persistent link: https://www.econbiz.de/10012908872
exchanges with few information asymmetries …
Persistent link: https://www.econbiz.de/10013087403