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 article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...

Authorised users (insiders) are behind the majority of security incidents with high financial impacts. Because authorisation is the process of controlling users? access to resources, improving authorisation techniques may mitigate the insider threat. Current approaches to authorisation suffer...

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...

Credence goods markets suffer from inefficiencies caused by superior information of sellers about the surplus-maximizing quality. While standard theory predicts that equal mark-up prices solve the credence goods problem if customers can verify the quality received, experimental evidence...

The impact of the Central and Eastern European economies' trade integration with European markets on CEE trade structures has been studied extensively. These studies frequently observe a quality upgrading of CEE exports. In this paper we consider three dimensions of quality upgrading upgrading...

This chapter discusses the basis for and concepts of implementing performance based measures in financial regulation. Drawing on empirical methods and insights generated in the field of behavioural economics theoretical considerations and alternative measurements of services and disclosure...

Government investment in university research results in greater output and impact. To better capture economic benefits stemming from university research, governments have developed funding programs specifically targeting university-industry collaboration. However, little is known about the...

Encouraging inventors to disclose new inventions is an important economic justification for the patent system, yet the technical information contained in patent applications is often inadequate and unclear. This paper proposes a novel approach to measure disclosure in patent applications using...

With the upswing of populist, right-wing and EU-sceptic parties and politicians in Europe and the success of Donald Trump in the US presidential elections in 2016 media and their role with respect to the perception and decisions of individuals in the political context are (once again) in the...