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is a common problem. Our model studies how four common features shape experts’ provision behavior in credence goods …
Persistent link: https://www.econbiz.de/10014382483
is a common problem. Our model studies how four common features shape experts' provision behavior in credence goods …
Persistent link: https://www.econbiz.de/10014471649
is a common problem. Our model studies how four common features shape experts' provision behavior in credence goods …
Persistent link: https://www.econbiz.de/10014475817
is a common problem. Our model studies how four common features shape experts' provision behavior in credence goods …
Persistent link: https://www.econbiz.de/10014476274
contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest … too low quality and less frequent trade. Thus, shadow economies may reduce welfare not only by inducing agents to incur …
Persistent link: https://www.econbiz.de/10010529409
, where contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. We find …
Persistent link: https://www.econbiz.de/10010237657
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
as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …
Persistent link: https://www.econbiz.de/10010294825
inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …
Persistent link: https://www.econbiz.de/10010294835
contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest … too low quality and less frequent trade. Thus, shadow economies may reduce welfare not only by inducing agents to incur …
Persistent link: https://www.econbiz.de/10011288210