Information and Markets for Credence Goods

132 p.Thesis (Ph.D.)--University of Illinois at Urbana-Champaign, 2004.The final chapter in my dissertation considers how imperfect information about credence goods impacts consumer welfare. Since consumers do not notice a change in quality of a credence good, a non-optimal consumption choice is made which impacts consumer welfare. I develop a framework to account for the welfare effects of consumer uncertainty and imperfect information of changes in product quality of credence goods. In doing so, the research also provides a measure for the value of information.U of I OnlyRestricted to the U of I community idenfinitely during batch ingest of legacy ETD