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taken from selection theory in the context of legal disputes (Priest and Klein, The Journal of Legal Studies 13 …(1):1, <CitationRef CitationID="CR24">1984</CitationRef>) and political science. Hypotheses from selection theory regarding the influence … trial outcomes were confirmed. In addition, the results corroborate other implications of selection theory, such as the non …
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Whether consumers are aware of potentially adverse product effects is key to private and social incentives to disclose information about undesirable product characteristics. In a monopoly model with a mix of aware and unaware consumers, a larger share of unaware consumers makes information...
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We study a game in which two competing sellers supplying experience goods of different quality can induce a perspective buyer into a bad purchase through (costly) deceptive advertising. We characterize the equilibrium set of the game and argue that an important class of these outcomes features...
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According to the European Directive on the sale of consumer goods, the German state must change the law for contracts between private buyers and commercial firms until end of year. In cases of defects sellers are liable for two years; for six months after delivering lack proving need no longer...
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