#2546. Consumer information in a market for expert services: Experimental evidence

December 2026publication date
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Journal’s subject area:
Economics, Econometrics and Finance (miscellaneous);
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Abstract:
The article experimentally investigates whether increasing consumer knowledge eliminates market inefficiencies. The results show that consumers are reluctant to accept expensive treatments, in which interest rates decline further on good signals but rise significantly on poor signals. Experts attribute fraud to the fact that consumers could face a major problem if they can access consumer information. Accordingly, experts and low-risk consumers benefit from the more frequently defrauded high-risk consumers.
Keywords:
Consumer information; Experts; Laboratory experiment

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