We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions of the model using sales complaint data for exclusive and...

We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions of the model using sales complaint data for exclusive and...

Disclosure of lobbying activity has become much more timely and stringent in the US, and many demand similar regulation also for lobbying in the European Union. Disclosure informs voters about a lobbyist’s activity, but it also informs rival lobbying groups, with strategic consequences. Under...

Property rights are undoubtedly among the most important institutions for economic efficiency. Still, by looking at reality we usually see property rights only imperfectly enforced. In this paper we identify uncertainty faced by an enforcer to be sufficient to explain this observation. This...

Increasingly, lobbying groups are subject to transparency requirements, obliging them to provide detailed information about their business. We study the effect this transparency policy has on the nature of lobbying competition. Under mild conditions, mandated transparency leads to an increase in...