question of whether increased occupational licensing of mortgage brokers improves consumer outcomes is theoretically ambiguous … consumer market for mortgages. We find that one typical regulation--the requirement in many states that mortgage brokers … and consumer market outcomes. In particular, we find that tighter bonding/net worth requirements are associated with …

This paper studies the impact of the arbitrator selection process on consumer outcomes by examining roughly 9 …,000 consumer arbitration cases in the securities industry. Securities disputes present a good laboratory: arbitration is mandatory … arbitrators without the input of firms and consumers would increase consumer awards by $40,000 on average, relative to the current …

Neoclassical theory postulates that preferences between two goods are independent of the consumer's current …

. In the former case, allowing consumer feedback improves allocations, and increasing consumer information is unambiguously … consumers have similar preferences to the principal, and those where consumer preferences diverge from those of the principal …

We study the effects of consumer information on equlibrium market prices and observable product quality in the market … effects of information provision in a model of vertical differentiation. We show conditions in which increased consumer … and referral agencies (R&Rs) in some markets. R&Rs provide consumers with information on availability, price, and …

Consumer search is not only costly but also tiring. We characterize the intertemporal effects that search fatigue has … on oligopoly prices, product proliferation, and the provision of consumer assistance (i.e., advice). These effects vary …