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Credence goods markets with their asymmetric information between buyers and sellers are prone to large inefficiencies. In theory, poorly informed consumers can protect themselves from maltreatment through sellers by asking for second opinions from other sellers. Yet, empirical evidence whether...
Persistent link: https://www.econbiz.de/10012609018
We present a natural field experiment designed to examine the extent to which priming can influence the behaviour of sellers in a real world market for credence goods. We employed 40 testers to take 600 taxi journeys in and around Vienna, Austria. Using a between-subject design we vary the...
Persistent link: https://www.econbiz.de/10012609022