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, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences …
Persistent link: https://www.econbiz.de/10010269558
Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods...
Persistent link: https://www.econbiz.de/10010271236