years, questions have arisen about whether its services help or harm consumers. In response, states have increasingly … consumers. On balance, our results also seem to support the relevance of theories of occupational licensing that stress the …

informational advantage over consumers in selecting arbitrators, resulting in industry-friendly arbitration outcomes. We then … arbitrators without the input of firms and consumers would increase consumer awards by $40,000 on average, relative to the current … mechanism for the benefit of consumers hinges on whether consumers are informed. Policies such as increasing arbitrator …

-functioning marketplace, suggest that prospect theory adequately organizes behavior among inexperienced consumers, whereas consumers with …

Consumers solve many agency problems, by pointing out when they believe that agents have made mistakes. This paper … considers the role that consumers play in inducing efficient behavior by agents. I distinguish between two case: those where … consumers have similar preferences to the principal, and those where consumer preferences diverge from those of the principal …