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Advice is cheap : information is not!
Häfner, Samuel; Taylor, Curtis R. - 2017
An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...
Persistent link: https://www.econbiz.de/10012117630
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A true expert knows which question should be asked
Dekel-Tabak, Eddie (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002098736
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A true expert knows which question should be asked
Dekel-Tabak, Eddie; Feinberg, Yossi - 2004
Persistent link: https://www.econbiz.de/10002469205
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A true expert knows which question should be asked.
Dekel-Tabak, Eddie (contributor);  … - 2004
We suggest a test for discovering whether a potential expert is informed of the distribution of a stochastic process. In a non-Bayesian non-parametric setting, the expert is asked to make a prediction which is tested against a single realization of the stochastic process. It is shown that by...
Persistent link: https://www.econbiz.de/10003778858
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Non-Bayesian testing of a stochastic prediction
Dekel-Tabak, Eddie (contributor);  … - 2005
We propose a method to test a prediction of the distribution of a stochastic process. In a non-Bayesian non-parametric setting, a predicted distribution is tested using a realization of the stochastic process. A test associates a set of realizations for each predicted distribution, on which the...
Persistent link: https://www.econbiz.de/10003780879
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Non-Bayesian testing of a stochastic prediction
Dekel, Eddie; Feinberg, Yossi - 2005
We propose a method to test a prediction of the distribution of a stochastic process. In a non-Bayesian non-parametric setting, a predicted distribution is tested using a realization of the stochastic process. A test associates a set of realizations for each predicted distribution, on which the...
Persistent link: https://www.econbiz.de/10010272320
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An informational Ponzi-scheme
Silva, Francisco - 2020
Persistent link: https://www.econbiz.de/10012583934
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Misconduct in credence good markets
Brown, Jennifer; Minor, Dylan - 2012
Persistent link: https://www.econbiz.de/10009683343
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Misconduct in Credence Good Markets
Brown, Jennifer - 2012
We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …
Persistent link: https://www.econbiz.de/10012460054
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Misconduct in Credence Good Markets
Brown, Jennifer - 2012
We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …
Persistent link: https://www.econbiz.de/10013096847