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Expert costs and the role of verifiability
Li, Jianpei; Ouyang, Yaofu; Zhang, Wanzhu - In: Journal of institutional and theoretical economics : JITE 180 (2024) 1, pp. 17-42
Persistent link: https://www.econbiz.de/10014487206
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The information paradox in a monopolist's credence goods market
Jost, Peter-J.; Reik, Steffen; Ressi, Anna - 2019
the verifiability of the quality provided and the expert's liability. In this paper, we identify the information … and in contrast to traditional models, the verifiability of the quality provided is only of secondary importance. …
Persistent link: https://www.econbiz.de/10012286246
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Consumer information in a market for expert services : experimental evidence
Schneider, Tim; Meub, Lukas; Bizer, Kilian - 2016
Markets for expert services are characterized by information asymmetries between experts and consumers. We analyze the … effects of consumer information, where consumers suffer from either a minor or serious problem and only experts can infer the … endorsed by good signals and fundamentally changed by bad signals. Experts condition their cheating on a consumer's risk of …
Persistent link: https://www.econbiz.de/10011496820
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On the role of verifiability and commitment in credence goods markets
Fong, Yuk-Fai; Liu, Ting; Wright, Donald J. - In: International journal of industrial organization 37 (2014), pp. 118-129
Persistent link: https://www.econbiz.de/10011292568
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The information paradox in a monopolist's credence goods market
Jost, Peter-J.; Reik, Steffen; Ressi, Anna - In: International journal of industrial organization 75 (2021), pp. 1-13
Persistent link: https://www.econbiz.de/10012802743
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Too much or too little? : price-discrimination in a market for credence goods
Dulleck, Uwe; Kerschbamer, Rudolf; Konovalov, Alexander … - 2014
In markets for credence goods sellers are better informed than their customers about the quality that yields the highest surplus from trade. This paper studies second-degree price-discrimination in such markets. It shows that discrimination regards the amount of advice offered to customers and...
Persistent link: https://www.econbiz.de/10010354736
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Credence goods markets with heterogeneous experts
Heinzel, Joachim - 2019
Persistent link: https://www.econbiz.de/10011979378
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Does organic wine taste better? : an analysis of experts' ratings
Delmas, Magali A.; Gergaud, Olivier; Lim, Jinghui - In: Journal of wine economics 11 (2016) 3, pp. 329-354
Persistent link: https://www.econbiz.de/10011607827
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Credence goods, costly diagnosis, and subjective evaluation
Bester, Helmut; Dahm, Matthias - 2014
We study contracting between a consumer and an expert. The expert can invest in diagnosis to obtain a noisy signal about whether a low-cost service is sufficient or whether a high-cost treatment is required to solve the consumerś problem. This involves moral hazard because diagnosis effort and...
Persistent link: https://www.econbiz.de/10010429934
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The hidden costs of tax evasion : collaborative tax evasion in markets for expert services
Balafoutas, Loukas; Beck, Adrian; Kerschbamer, Rudolf; … - 2015
We experimentally examine the impact of tax evasion attempts on the performance of credence goods markets, where contractual incompleteness results from asymmetric information on the welfare maximizing quality of the good. Our results suggest that tax evasion attempts - independently of whether...
Persistent link: https://www.econbiz.de/10010529409