Consider an environment where long-lived experts repeatedly interact with short-lived customers. In periods when an … appropriate. We find that there exists an equilibrium in which experts always play truthfully and choose the customer's preferred … with high probability if the previous treatment was minor, and low probability if it was major. If experts have private …

We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …

combines these methods by using observed decisions by experts to reduce the demensionality of the feature space and allow the … categorization of decisions by their propensity score. The fact that the human capital of experts is heterogeneous implies that …

-Expected Utility theories, we strongly reject Prospect Theory probability weighting, we support disappointment aversion if amended to …

.S. household survey, we measure ambiguity aversion using custom- designed questions based on Ellsberg urns. As theory predicts …