• Medientyp: E-Book
  • Titel: The economics of advice
  • Beteiligte: Emons, Winand [VerfasserIn]; Lenhard, Severin [VerfasserIn]
  • Erschienen: Bern, Switzerland: Universität Bern, Faculty of Business, Economics and Social Sciences, Department of Economics, [2022]
  • Erschienen in: Universität Bern: Diskussionsschriften ; 2022,14
  • Ausgabe: Version: November 2022
  • Umfang: 1 Online-Ressource (circa 26 Seiten); Illustrationen
  • Sprache: Englisch
  • Identifikator:
  • Schlagwörter: advice ; credence good ; horizontal product differentiation ; Graue Literatur
  • Entstehung:
  • Anmerkungen:
  • Beschreibung: A consumer wants to buy one of three different products. An expert observes which of the three products is the best match for the consumer. Under linear prices a monopolistic expert may truthfully reveal, may partially reveal, and may not reveal at all her information. The outcome is inefficient; moreover, the consumer gets some of the surplus. With a two-part tariff the expert truthfully reveals her information. The outcome is efficient and the expert appropriates the entire surplus. If experts are competitive, they also truthfully reveal; here all the surplus goes to consumers.
  • Zugangsstatus: Freier Zugang
  • Rechte-/Nutzungshinweise: Namensnennung (CC BY)