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Diagnostic Uncertainty and Insurance Coverage in Credence Goods Markets
Loukas Balafoutas
Helena Fornwagner
Rudolf Kerschbamer
Matthias Sutter
Maryna Tverdostup
出版
Research platform Empirical and Experimental Economics, University of Innsbruck
, 2023
URL
http://books.google.com.hk/books?id=jKlO0AEACAAJ&hl=&source=gbs_api
註釋
In markets for credence goods - such as health care or repair services - fraudulent behavior by better informed experts is a common problem. Our model studies how four common features shape experts' provision behavior in credence goods markets: (i) diagnostic uncertainty of experts; (ii) insurance coverage of consumers; (iii) malpractice payments for treatment failure; and (vi) consumer-regarding preferences of experts. Diagnostic imprecision unambiguously leads to less efficient provision. Insurance coverage and malpractice payments have an ambiguous effect on efficient provision. The impact of consumer-regarding preferences on efficiency is positive without insurance but ambiguous in the presence of insurance.
