Benner, Dietrich (contributor) - 2004
post -. Trust has to replace own examination and verification. Applying Choquet-Expected Utility theory, a general model of … uncertainty on the ?market for lemons? of Akerlof (1970) to ?quality ambiguity? with credence goods. The model shows the market … too low, sellers of credence goods will be driven out of the market by trust induced adverse selection. In market …
