Bindra, Parampreet Christopher, Kerschbamer, Rudolf, 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:
CreatorsEmailORCIDORCID Put Code
Bindra, Parampreet ChristopherUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Kerschbamer, RudolfUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Neururer, DanielUNSPECIFIEDUNSPECIFIEDUNSPECIFIED
Sutter, MatthiasUNSPECIFIEDorcid.org/0000-0002-6143-8706UNSPECIFIED
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: Unspecified
Divisions: Unspecified
Subjects: no entry
Uncontrolled Keywords:
KeywordsLanguage
MARKET; COMPETITIONMultiple languages
EconomicsMultiple languages
URI: http://kups.ub.uni-koeln.de/id/eprint/58641

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