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In an experiment we first elicit the distributional preferences of subjects and then let them bid for a lottery, either …
Persistent link: https://www.econbiz.de/10011404058
This paper investigates how heterogeneity in contestants ́investment costs affects the competition intensity in a … dynamic elimination contest. Theory predicts that the absolute level of investment costs has no effect on the competition …
Persistent link: https://www.econbiz.de/10010199750
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Credence goods, such as car repairs or medical services, are characterized by severe informational asymmetries between sellers and consumers, leading to fraud in the form of provision of insufficient service (undertreatment), provision of unnecessary service (overtreatment) and charging too much...
Persistent link: https://www.econbiz.de/10010237656
We compare the behavior of car mechanics and college students as sellers in experimental credence goods markets … learned in their professional training. -- artefactual field experiment ; car mechanics ; credence goods …
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inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …
Persistent link: https://www.econbiz.de/10010271236
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …
Persistent link: https://www.econbiz.de/10010294835