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Article Dans Une Revue Economics Letters Année : 2013

Credence goods, experts and risk aversion

Résumé

The existing literature on credence goods and expert services has overlooked the importance of risk aversion. In this paper we extend a standard expert model of credence goods with verifiable service quality by considering risk-averse consumers. Our results show that the presence of risk aversion reduces the expert's incentive to invest in diagnosis and may thus lead to consumers' mistreatment.
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Dates et versions

hal-00976890 , version 1 (10-04-2014)

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Olivier Bonroy, Stéphane Lemarié, Jean-Philippe Tropeano. Credence goods, experts and risk aversion. Economics Letters, 2013, 120 (3), pp.464-467. ⟨10.1016/j.econlet.2013.05.033⟩. ⟨hal-00976890⟩
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