: whereas some consumers welcome the opportunity to purchase and learn about the new technology, for others the inconvenience …

respect the privacy of consumers. But nonrivalry leads to other consequences that are less obvious. Because of nonrivalry …. Instead, giving the data property rights to consumers can generate allocations that are close to optimal. Consumers balance …

This paper argues that firms have an informational advantage over consumers in selecting arbitrators in consumer … selected. Third, more experienced firms and less sophisticated consumers select more industry friendly arbitrators. We develop … and calibrate a model of arbitrator selection with uninformed consumers. We find that competition between arbitrators …

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 …

-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 …

and referral agencies (R&Rs) in some markets. R&Rs provide consumers with information on availability, price, and …