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Reciprocity and gift exchange in markets for credence goods
Kandul, Serhiy; Lanz, Bruno; Reins, Evert - In: Games and economic behavior 141 (2023), pp. 52-69
Persistent link: https://www.econbiz.de/10014454427
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Reciprocity and gift exchange in markets for credence goods
Kandul, Serhiy; Lanz, Bruno; Reins, Evert - 2020
solving the problem. We find that both types of gift reduce undertreatment, whereas unconditional gifts also reduce … overcharging and increase undercharging, suggesting that unconditional gifts are perceived as more kind. For high …
Persistent link: https://www.econbiz.de/10012609077
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Expert qualification in markets for expert services : a Sisyphean Task?
Schneider, Tim; Bizer, Kilian - 2017
Moral hazard in expert diagnoses is more complicated in credence goods markets because ex-post verification of service optimality is usually not possible. We provide an experimental framework to investigate expert and consumer behavior as well as market efficiency in a setting in which experts...
Persistent link: https://www.econbiz.de/10011730221
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Consumer information in a market for expert services : experimental evidence
Schneider, Tim; Meub, Lukas; Bizer, Kilian - 2016
laboratory experiment, we show that consumers are generally reluctant to accept expensive treatment recommendations, which is …
Persistent link: https://www.econbiz.de/10011496820
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How social preferences shape incentives in (experimental) markets for credence goods
Kerschbamer, Rudolf; Sutter, Matthias; Dulleck, Uwe - 2015 - This Version: February 2015
Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...
Persistent link: https://www.econbiz.de/10010479932
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Diagnostic uncertainty and insurance coverage in credence goods markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020
framework. We test the model’s predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …
Persistent link: https://www.econbiz.de/10012312079
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Diagnostic uncertainty and insurance coverage in credence goods markets
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2020
framework. We test the model's predictions in a laboratory experiment. Both in theory and in the experiment diagnostic … net effect on welfare. In the experiment, the net effect of insurance coverage on efficiency turns out to be positive. We …
Persistent link: https://www.econbiz.de/10012313962
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Trust in health care credence goods : experimental evidence on framing and subject pool effects
Angerer, Silvia; Glätzle-Rützler, Daniela; Waibel, … - 2021
Credence goods markets are characterized by asymmetric information concerning the needed and/or provided quality between experts and consumers. The functioning of the market heavily relies on trust on the side of the consumer as well as trustworthiness on the side of the expert. However, a great...
Persistent link: https://www.econbiz.de/10012591151
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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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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