bad. In a market setting with multiple consumers per expert, a cross-consumer externality arises: one consumer's payment … raises the expert's income, which makes the non-selfish part of preferences more important and thereby induces the expert to … provides a novel rationale for the wide-spread use of price regulation and licensing in real-world markets for expert services. …

We study optimal direct mechanisms for a credence goods expert who can be altruistic or spiteful. The expert has …

of Self Regulatory Organizations (SROs) to publicly disclose vs. cover-up fraud in an incomplete information environment … relative likelihood of fraud detection by a ldquo;vigilantrdquo; vs. a ldquo;laxrdquo; SRO type. In particular, a fraud … disclosure equilibrium is supported when subjects are informed that the ldquo;vigilantrdquo; SRO is more likely to detect fraud …

This note reconsiders communication between an informed expert and an uninformed decision maker with a strategic … he is biased into the same direction as the expert. The mediator improves communication, however, only if some …

This note reconsiders communication between an informed expert and an uninformed decision maker with a strategic … he is biased into the same direction as the expert. The mediator improves communication, however, only if some …