efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

higher efficiency as long as liability is violated. -- credence goods ; experiment ; liability ; verifiability ; reputation … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

higher efficiency as long as liability is violated. -- Credence goods ; experiment ; liability ; verifiability ; reputation … efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation … determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields … inefficiencies, such as under- and overtreatment or market break-down. We study in a large experiment with 936 participants the …

, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences … as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …

, verifiability fails to yield efficiency in experiments with endogenous prices. We identify heterogeneous distributional preferences … as the main cause and design a parsimonious experiment with exogenous prices that allows classifying experts as either …