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are characterized by asymmetric information. Physicians have an information advantage over patients with respect to the …, physicians have to pay a fine. Endogenous monitoring can be requested by patients, whereas exogenous monitoring is performed … experiment. Our results show that introducing endogenous monitoring reduces the level of undertreatment and overcharging. Even …
Persistent link: https://www.econbiz.de/10012314939
experiment with 743 subjects whether small-scale, seemingly negligible, events also affect the formation of risk preferences. In … second lottery almost a year later. The same pattern emerges in another experiment with 136 subjects where the second lottery …
Persistent link: https://www.econbiz.de/10012607969
, because the economics literature on group decision making has, so far, assumed homogeneity within groups. In a lab experiment …
Persistent link: https://www.econbiz.de/10012019615
Persistent link: https://www.econbiz.de/10008657628
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Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...
Persistent link: https://www.econbiz.de/10010479932
This paper proposes a geometric delineation of distributional preference types and a non-parametric approach for their identification in a two-person context. It starts with a small set of assumptions on preferences and shows that this set (i) naturally results in a taxonomy of distributional...
Persistent link: https://www.econbiz.de/10010191920
We study optimal direct mechanisms for a credence goods expert who can be altruistic or spiteful. The expert has private information about her distributional preferences and possibly also about her customer's needs. We introduce a method that allows the customer to offer separate contracts to...
Persistent link: https://www.econbiz.de/10010193284
as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either … ; experiment …
Persistent link: https://www.econbiz.de/10009736635
We study how the distribution of other-regarding preferences develops with age. Based on a set of allocation choices, we can classify each of 717 subjects, aged 8 to 17 years, as either egalitarian, altruistic, or spiteful. Varying the allocation recipient as either an ingroup or an out-group...
Persistent link: https://www.econbiz.de/10009737064