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The economics of credence goods : on the role of liability, verifiability, reputation and competition

Dulleck, Uwe; Kerschbamer, Rudolf; Sutter, Matthias - 2009

higher efficiency as long as liability is violated. -- Credence goods ; experiment ; liability ; verifiability ; reputation … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …

Persistent link: https://www.econbiz.de/10003814341

Asset integration, risk taking and loss aversion in the laboratory

Morrison, William G.; Oxoby, Robert J. - 2019

We report on a laboratory experiment testing for the presence of loss aversion, as separate from risk aversion …

Persistent link: https://www.econbiz.de/10011997618

The distribution of ambiguity attitudes

Gaudecker, Hans-Martin von; Wogrolly, Axel; Zimpelmann, … - 2022

health disparities, health behaviors, dynamic demand, side effects, structural models, HIV/AIDSaThis paper analyzes the stability and distribution of ambiguity attitudes using a broad population sample. Using high-powered incentives, we collected six waves of data on ambiguity attitudes about...

Persistent link: https://www.econbiz.de/10013453995

Badge of honor or scarlet letter? : unpacking investors' judgment of entrepreneurs' past failure

Zunino, Diego; Praag, Mirjam van; Dushnitsky, Gary - 2017

our predictions using an online experiment where respondents are potential investors in seed stage ventures via equity …

Persistent link: https://www.econbiz.de/10011732046

Producer protection legislation and termination damages in the presence of contracting frictions

Wu, Steven - 2009

This study models producer protection legislation that would grant growers the right to claim damages (PPLD) if their contracts are prematurely terminated. In the absence of contracting frictions that prevent contractors from redesigning contracts to accommodate exogenous policy changes, PPLD...

Persistent link: https://www.econbiz.de/10003894440

Losers and losers : some demographics of medical malpractice tort reforms

Friedson, Andrew I.; Kniesner, Thomas J. - 2011

Our research examines individual differences in the effects of medical malpractice tort reforms on pre-trial settlement speed and settlement amounts by age and most likely settlement size. Findings of note include that, unlike previously assumed, both absolute and percentage losses from tort...

Persistent link: https://www.econbiz.de/10009379672

The role of lawyer-legislators in shaping the law : evidence from voting behavior on tort reforms

Matter, Ulrich; Stutzer, Alois - 2015

Attorneys elected to the US Congress and to US state legislatures are systematically less likely to vote in favor of tort reforms that restrict tort litigation, but more likely to support bills that extend tort law than legislators with a different professional background. This finding is based...

Persistent link: https://www.econbiz.de/10010488138

Compensation in personal injury cases : mean or median income?

Danziger, Leif; Katz, Eliakim - 2019

Courts typically base compensation for loss of income in personal injury cases on either mean or median work income. Yet, quantatively, mean and median incomes are typically very different. For example, in the US median income is 65 percent of mean income. In this paper we use economic theory to...

Persistent link: https://www.econbiz.de/10012034365

Shaking criminal incentives

Aoki, Yu; Koutmeridis, Theodore - 2019

We study criminal incentives exploiting the devastating shock of the 1995 Kobe earthquake. Evidence shows that the earthquake decreased burglaries but left other crime types unaffected. The effect stays significant even after controlling for unemployment, policing and income. We corroborate this...

Persistent link: https://www.econbiz.de/10012138515

How do insurers price medical malpractice insurance?

Black, Bernard S.; Traczynski, Jerey; Udalova, Victoria - 2022

Liability Monitor over 1990 to 2017. A number of core findings are not easily explained by standard economic theory. First, we …

Persistent link: https://www.econbiz.de/10013272267