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Sequential optimization, front-loaded information, and U.S. consumption
Willman, Alpo - 2007
In an overlapping generations maximization framework with consumers, whose information on uncertain future income realizations is front loaded, a closed form aggregate consumption function with CRRA preferences is derived. To have a closed form solution we assume that consumers solve their...
Persistent link: https://www.econbiz.de/10011604811
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Expert qualification in markets for expert services : a Sisyphean Task?
Schneider, Tim; Bizer, Kilian - 2017
Sisyphean task, as theory predicted. Nevertheless, we observe high skilled experts investing significantly less effort in …
Persistent link: https://www.econbiz.de/10011730221
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Pay-what-you-want pricing schemes : a self-image perspective
Kahsay, Goytom Abraha; Samahita, Margaret - 2014
Persistent link: https://www.econbiz.de/10010250458
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Asymmetric information and imperfect competition in a continuous time multivariate security model
Lasserre, Guillaume - In: Finance and stochastics 8 (2004) 2, pp. 285-309
Persistent link: https://www.econbiz.de/10002012604
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Increasing consumer surplus through a novel product testing mechanism
Vollstaedt, Ulrike; Imcke, Patrick; Brendel, Franziska; … - 2020
Our study proposes a novel mechanism to reduce information asymmetry about product quality between buyers and sellers. Product testing organizations like Consumer Reports (US) and Stiftung Warentest (Germany) seek to reduce this asymmetry by providing credible information. However, limited...
Persistent link: https://www.econbiz.de/10012405619
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Serving consumers in an uncertain world : a credence goods experiment
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2023 - This version: 3 October 2023
Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by...
Persistent link: https://www.econbiz.de/10014391609
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Serving consumers in an uncertain world : a credence goods experiment
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2023 - This version: 30 September 2023
Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by...
Persistent link: https://www.econbiz.de/10014373468
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Serving consumers in an uncertain world : a credence goods experiment
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2023 - This version: 3 October 2023
Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by...
Persistent link: https://www.econbiz.de/10014382489
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The economics of credence goods : on the role of liability, verifiability, reputation and competition
Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … higher efficiency as long as liability is violated. -- credence goods ; experiment ; liability ; verifiability ; reputation …
Persistent link: https://www.econbiz.de/10009733215
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Privacy concerns, voluntary disclosure of information, and unraveling : an experiment
Benndorf, Volker; Kübler, Dorothea; Normann, Hans-Theo - 2013
We study the voluntary revelation of private, personal information in a labor-market experiment with a lemons structure …
Persistent link: https://www.econbiz.de/10009789435