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Inefficiency and regulation in credence goods markets with altruistic experts
Farukh, Razi; Kerkhof, Anna; Loebbing, Jonas - 2020
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. …
Persistent link: https://www.econbiz.de/10012431181
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Screening experts' distributional preferences
Erharter, Dominik - 2013
We study optimal direct mechanisms for a credence goods expert who can be altruistic or spiteful. The expert has …
Persistent link: https://www.econbiz.de/10010193284
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What renders financial advisors less treacherous? : on commissions and reciprocity
Angelova, Vera - 2010
An advisor is supposed to recommend a financial product in the best interest of her client. However, the best product for the client may not always be the product yielding the highest commission (paid by product providers) to the advisor. Do advisors nevertheless provide truthful advice? If not,...
Persistent link: https://www.econbiz.de/10003980494
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Umbrella branding and the provision of quality
Hakenes, Hendrik; Peitz, Martin - 2006
Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the performance of both products. We show that if the probability...
Persistent link: https://www.econbiz.de/10010365881
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Umbrella Branding and the Provision of Quality
Peitz, Martin; Hakenes, Hendrik - 2021
Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the performance of both products. We show that if the probability...
Persistent link: https://www.econbiz.de/10013318794
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Sanctioning Reputation Mechanisms in Online Trading Environments with Moral Hazard
Dellarocas, Chrysanthos - 2014
This paper offers a systematic exploration of reputation mechanism design in trading environments with opportunistic sellers, imperfect monitoring of a seller's actions and two possible seller effort levels, one of which has no value to buyers. The objective of reputation mechanisms in such...
Persistent link: https://www.econbiz.de/10014031061
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Incentives through consumer learning about tastes
Schumacher, Heiner - In: International Journal of Industrial Organization 37 (2014) C, pp. 170-177
We consider a long-lived firm that faces an infinite sequence of finitely-lived consumers. In each period, the firm can exert either high or low effort, which is the firm's private information. When consumers learn about the firm's talent from the outcomes of previous transactions, there exists...
Persistent link: https://www.econbiz.de/10011117301
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Medical insurance and free choice of physician shape patient overtreatment : a laboratory experiment
Huck, Steffen; Lünser, Gabriele; Spitzer, Florian; … - 2016 - October 2014 (revised June 2016)
consult more often and physicians overtreat more often than in the baseline condition. Competition decreases overtreatment … found to partially offset the adverse effects of insurance: most patients seek treatment, but overtreatment is moderated. …
Persistent link: https://www.econbiz.de/10011490343
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Medical insurance and free choice of physician shape patient overtreatment : a laboratory experiment
Huck, Steffen; Lünser, Gabriele; Spitzer, Florian; … - 2014
physicians overtreat more often than in the baseline condition. Competition decreases overtreatment compared to the baseline and … adverse effects of insurance: most patients seek treatment, but overtreatment is moderated. …
Persistent link: https://www.econbiz.de/10010413597
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Medical insurance and free choice of physician shape patient overtreatment : a laboratory experiment
Huck, Steffen; Lünser, Gabriele; Spitzer, Florian; … - In: Journal of economic behavior & organization : JEBO 131 (2016) 2, pp. 78-105
Persistent link: https://www.econbiz.de/10011702733