Universität zu Köln

Bindra, Parampreet Christopher, Kerschbamer, Rudolf ORCID: 0000-0002-7666-7157, Neururer, Daniel and Sutter, Matthias ORCID: 0000-0002-6143-8706 (2021). On the value of second opinions: A credence goods field experiment. Econ. Lett., 205. LAUSANNE: ELSEVIER SCIENCE SA. ISSN 1873-7374

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Abstract

Credence goods markets with their asymmetric information between buyers and sellers are prone to large inefficiencies. In theory, poorly informed consumers can protect themselves from maltreatment through sellers by gathering second opinions from other sellers. Yet, field experimental evidence whether this is a successful strategy is scarce. Here we present a natural field experiment in the market for computer repairs and show that revealing a second opinion from another expert does neither increase the rate of successful repairs nor decrease the average repair price charged by sellers. (C) 2021 The Authors. Published by Elsevier B.V.

Item Type:	Journal Article
Creators:	Creators Email ORCID ORCID Put Code Bindra, Parampreet Christopher UNSPECIFIED UNSPECIFIED UNSPECIFIED Kerschbamer, Rudolf UNSPECIFIED orcid.org/0000-0002-7666-7157 UNSPECIFIED Neururer, Daniel UNSPECIFIED UNSPECIFIED UNSPECIFIED Sutter, Matthias UNSPECIFIED orcid.org/0000-0002-6143-8706 UNSPECIFIED
URN:	urn:nbn:de:hbz:38-586415
DOI:	10.1016/j.econlet.2021.109925
Journal or Publication Title:	Econ. Lett.
Volume:	205
Date:	2021
Publisher:	ELSEVIER SCIENCE SA
Place of Publication:	LAUSANNE
ISSN:	1873-7374
Language:	English
Faculty:	Faculty of Management, Economy and Social Sciences
Divisions:	Center of Excellence C-SEB
Subjects:	Economics
Uncontrolled Keywords:	Keywords Language MARKET; COMPETITION Multiple languages Economics Multiple languages
Refereed:	Yes
URI:	http://kups.ub.uni-koeln.de/id/eprint/58641