Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/171635 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
Economics Working Paper Series No. 14/192
Versionsangabe: 
March 2016
Verlag: 
ETH Zurich, CER-ETH - Center of Economic Research, Zurich
Zusammenfassung: 
We experimentally investigate the role of second opinions in markets where experts like doctors both diagnose and provide the services. Experts may exploit their informational advantage over customers and overtreat by providing a more costly and expensive treatment than necessary. We show that introducing costly second opinions significantly reduces the level of overtreatment. Market efficiency rises as the reduction in treatment costs—due to less overtreatment—exceeds the increase in incurred search costs. Lowering customers’ search costs leads to significantly more second opinions, however, the overtreatment level does not decrease.
Schlagwörter: 
Credence goods
Experts
Second opinion
Overtreatment
Search costs
JEL: 
D82
L15
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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