between experts and consumers. The functioning of the market heavily relies on trust on the side of the consumer as well as … behavior of experts, however, is not significantly influenced by the health care framing, nor by the subject pool. …

, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences … as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …

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 …

When experts have superior information on their customers' needs and appropriate treatment/repair/advice is a credence … good, there are obvious incentives for opportunistic behavior. What compounds this is that experts regularly make treatment …

This paper studies the incentives for credence goods experts to invest effort in diagnosis if effort is both costly and … effort and the credence characteristic of the good induces experts to choose incentive compatible tariff structures. This … makes them vulnerable to competition by discounters. We explore the conditions under which honestly diagnosing experts …