Replication data for: The Economics of Credence Goods: An Experiment on the Role of Liability, Verifiability, Reputation, and Competition

Matthias Sutter, Rudolf Kerschbamer & Uwe Dulleck
Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as under- and overtreatment or market breakdown. We study in a large experiment with 936 participants the determinants for efficiency in credence goods markets. While theory predicts that liability or verifiability yield efficiency, we find that liability has a crucial, but verifiability at best a minor, effect. Allowing sellers to build up reputation has little influence,...
This data repository is not currently reporting usage information. For information on how your repository can submit usage information, please see our documentation.