that tax evasion attempts - independently of whether they are successful or not - lead to efficiency losses in the form of …, but also by creating an additional efficiency loss in the underlying market by forfeiting possible gains from trade and by …

, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences … selfish, efficiency loving, inequality averse, inequality loving or competitive. Results show that most subjects exhibit non …-standard distributional preferences, among which efficiency-loving and inequality aversion are most frequent. We discuss implications for …

determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … higher efficiency as long as liability is violated. …

net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …