trustworthiness on the side of the expert. However, a great amount of empirical and experimental papers document for a range of … different credence goods markets the existence of over-, undertreatment, and overcharging. In this paper, we study two … neutral frame) as well as the identity of the expert (being either a standard student subject or a prospective physician). Our …

theoretically to be effective in mitigating fraudulent expert behavior. We analyze whether this positive result carries over to when …

theoretically to be effective in mitigating fraudulent expert behavior. We analyze whether this positive result carries over to a …

our model, an expert enjoys monopoly power on diagnosis and major treatments, but has limited market power on minor … treatments due to fringe competition. The expert's treatment offer only gets revealed to consumers upon visit, and both searching … the expert and fringe firms is costly. For search costs that are not excessively high, in equilibrium the expert …

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. …

economically important and statistically significant positive effect on the likelihood of overcharging, with passengers in that …

economically important and statistically significant positive effect on the likelihood of overcharging, with passengers in that …

economically important and statistically significant positive effect on the likelihood of overcharging, with passengers in that …