Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to 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...

In this paper we experimentally study effects of exogenous revenue shocks on long-term relationships between firms and workers. While we find that shocks have no significant effect on wages and a little effect on the duration of relationships, we observe their significant effect on effort...

We examine the influence of guilt and trust on the performance of credence goods markets. An expert can make a promise to a consumer first, whereupon the consumer can express her trust by paying an interaction price before the expert's provision and charging decisions. We argue that the expert's...

This paper discusses how a benevolent policy maker should act based on some, possibly non-welfaristic,ethical principle in cases where people's preferences are not perfectly informed,consistent and fully developed with regard to all goods, including all kinds of environmental goods, as is...

A great deal of biodiversity can be found in private forests, and protecting it requires taking into consideration the preferences of key stakeholders. In this study, we examine and compare the valuation of forest attributes across the general public, private non-industrial forest owners and...

Various decentralization experiments are currently underway in the Chinese forestry sector. However, a key question often ignored by researchers and policy makers is what farmers really want from reform. This paper addresses this question using a survey-based choice experiment. We investigated...

This paper provides the latest research developments in the method of choice experiments applied to valuation of non-market goods. Choice experiments, along with the, by now, well-known contingent valuation method, are very important tools for valuing non-market goods and the results are used in...

The study of the effects that different types of infrastructre have supposed in the regional growth is a topic that has been widely analysed from final eighties. One of the methodologies used for it is the Cost-Benefit analysis which permits an individual study of each project to advise...

The marine environment provides many goods and services dependent upon the quality of coastal waters. In this paper, we represent water quality by three different attributes, fish stock level, bathing water quality, and biodiversity level, and carry out a choice experiment among residents on the...

We investigate whether Swedish Environmental Protection Agency (EPA) administrator preferences regarding improvements in environmental quality differ from citizen preferences. The scope and significance of the possible difference are assessed by conducting identical choice experiments (CE) on a...