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experts make the predicted promise; (2) proper promises induce consumer-friendly behavior; and (3) higher interaction prices …
Persistent link: https://www.econbiz.de/10010294816
In markets for credence goods sellers are better informed than their customers about the quality that yields the highest surplus from trade. This paper studies second-degree price-discrimination in such markets. It shows that discrimination regards the amount of advice offered to customers and...
Persistent link: https://www.econbiz.de/10010397153
differently than individuals as they rely significantly less on useless outside advice from "experts" and choose the risk …
Persistent link: https://www.econbiz.de/10010312231