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Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
Discussion Papers No. 22-14
Verlag: 
University of Bern, Department of Economics, Bern
Zusammenfassung: 
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.
Schlagwörter: 
advice
credence good
horizontal product differentiation
JEL: 
D18
D82
Creative-Commons-Lizenz: 
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Dokumentart: 
Working Paper

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