Theory predicts that efficiency prevails on credence goods markets if customers are able to verify which quality they receive from an expert seller. In a series of experiments with endogenous prices we observe that verifiability fails to result in efficient provision behaviour and leads to very...

This paper presents the findings of the first pan-European survey of companies withinthe Fast Moving Consumer Goods sector. It provides a discussion on the definition ofshrinkage and presents data on the extent, nature and causes of stock loss throughout thesupply chain – from point of...

Shrinkage for retailers and suppliers of Fast Moving Consumer Goods (FMCG) continues to be a significant problem, one that seems resilient to ameliorative actions. In an effort to respond to the apparent failure of existing approaches to loss prevention, this chapter introduces a...

According to recent research, shrinkage, including theft, stock loss and damage, amounts to E18 billion across Europe -- roughly the equivalent of the Slovakian economy. Many companies simply don't know the real rate of shrinkage in their operations, or what is causing it. Within stores, the...

This paper presents the findings of the first pan-European survey of companies within the Fast Moving Consumer Goods sector. It provides a discussion on the definition of shrinkage and presents data on the extent, nature and causes of stock loss throughout the supply chain from point of...

We examine whether the way individuals randomize between options captures their decision confidence. In two experiments in which subjects faced pairs of options (a lottery and a varying sure payment), we allowed subjects to choose randomization probabilities according to which they would receive...