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Journal articles on the topic 'Credence goods and services'

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Author: Grafiati

Published: 26 October 2023

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1

Gottschalk, Felix, Wanda Mimra, and Christian Waibel. "Health Services as Credence Goods: a Field Experiment." Economic Journal 130, no. 629 (February 28, 2020): 1346–83. http://dx.doi.org/10.1093/ej/ueaa024.

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Abstract Agency problems are a defining characteristic of healthcare markets. We present the results from a field experiment in the market for dental care: a test patient who does not need treatment is sent to 180 dentists to receive treatment recommendations. In the experiment, we vary the socio-economic status of the patient and whether a second opinion signal is sent. Furthermore, measures of market, practice and dentist characteristics are collected. We observe an overtreatment recommendation rate of 28% and a striking heterogeneity in treatment recommendations. Furthermore, we find significantly fewer overtreatment recommendations for patients with higher socio-economic status compared with lower socio-economic status for standard visits, suggesting a complex role for patients’ socio-economic status. Competition intensity, measured by dentist density, does not have a significant influence on overtreatment. Dentists with shorter waiting times are more likely to propose unnecessary treatment.

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2

Ritzer-Angerer, Petra. "Was bedeuten die Vertrauensguteigenschaften der Jahresabschlussprüfung für die Regulierung der Wirtschaftsprüferhaftung?" Zeitschrift für Wirtschaftspolitik 69, no. 2 (September 25, 2020): 89–119. http://dx.doi.org/10.1515/zfwp-2020-2031.

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AbstractThe annual audit is the auditors’ main activity. It includes risk analysis, planning and execution. Credence goods are special goods or services whose suppliers have superior information about the quality, e. g. therapies or repairs. The customer cannot evaluate whether the service was appropriate. As the audit is sophisticated and a professional act, it is reasonable to assume that the auditor is better informed. Hence the audit can be considered a credence good. This article discusses two questions: Does the audit comply with the characteristics of credence goods and can regulation – especially of the auditor’s liability – mitigate the audit market problems caused by this?

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3

Bharali, Anjan, and Chimun Kr Nath. "Power of Advertising claims for Credence Goods: Can it shape Placebo effect and Repurchase Decisions?" Review of Applied Socio-Economic Research 22, no. 2 (December 2, 2021): 49–67. http://dx.doi.org/10.54609/reaser.v22i2.95.

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This study aims to find out if Advertising claims of credence goods can shape Placebo effect and lead to repurchase decisions or not. The concept of extrinsic factors of a brand being an important ingredient in consumer satisfaction is the antecedent for the study. Studies have been made to show how Advertisement helps products and services to sell more. But very few have tried to connect it with credence goods and know how consumers perceive satisfaction for those products. Further the phenomenonof repurchase decisions of credence goods is still unrevealed. On the basis of focus group technique,data has been collected for five brands which are considered as credence goods and an analysis has been provided to seewhether advertising claims can create Placebo effect or not. The analysis of the factors involved in taking repurchase decision of credence goods has also been studied by selecting variables taken as basis. The results indicate that Advertising claims of credence goods can lead to Placebo effect for those where consumers have strong urge for a positive result after using the brand. The rationality of a consumer influences the repurchase decision inversely. There is a strong connection between Placebo effect, Rationality and Repurchase decision of credence goods. Marketers thus have to be cautious while publishing claims of such goods

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4

Feser, Daniel, and Till Proeger. "Knowledge-Intensive Business Services as Credence Goods—a Demand-Side Approach." Journal of the Knowledge Economy 9, no. 1 (October 10, 2015): 62–80. http://dx.doi.org/10.1007/s13132-015-0320-1.

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5

Karunadasa, Manela, Katri K. Sieberg, and Toni Tapani Kristian Jantunen. "Payment Systems, Supplier-Induced Demand, and Service Quality in Credence Goods: Results from a Laboratory Experiment." Games 14, no. 3 (May 31, 2023): 46. http://dx.doi.org/10.3390/g14030046.

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This experiment examines the relationship between payment systems and the quality and quantity of services provided in credence goods markets. By using a real-effort task to stimulate the decision making of service providers, the study finds that payment systems do indeed have an impact on service provision. Specifically, providers in fee-for-service systems over-provide, while those in salary systems under-provide services. Additionally, there is a lack of alignment between the services provided under fee-for-service and the actual needs of customers, resulting in a substantial loss of customer benefits under fee-for-service in comparison to under salary. The study also finds that providers in fee-for-service systems perform more faulty tasks than those in salary, indicating that they may prioritize quantity over quality in their services. As for insurance, the results of this study show no significant effect of insurance on the number of services provided; however, customers without insurance received significantly more faulty tasks. Based on these results, the study concludes that payment systems play an important role in determining the quality and quantity of services provided in credence goods markets. Overall, this study highlights the need for a better alignment between customer needs and services provided under fee-for-service systems.

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6

Tambovtsev, Vitaly L., and Irina A. Rozhdestvenskaya. "Improving public services delivery: Economists’ perspective." Upravlenets 14, no. 4 (September 7, 2023): 2–14. http://dx.doi.org/10.29141/2218-5003-2023-14-4-1.

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Improving public services delivery is one of the central tasks of public administration reforms, which substantiates the high importance of analysing approaches to tackling it. The paper discusses avenues for enhancing the quality of public services delivery in the light of the findings of the latest economic research. Methodologically, the study rests on the principles of public administration. The research methods of content analysis and systematization were applied. The results of the study show that today’s approaches to improving public services do not take into account the important aspects of their production and delivery, which are revealed by the principal-agent model and the concept of search, experience and credence goods that has over half a century of history. The article shows that the empirically established negative consequences of new public management applied in the areas, such as health care and education, are direct consequences of this neglect. We formulate a number of proposals concerning the improvement of public services delivery, namely to consider the type of service, to distinguish between the quality of service and the quality of servicing, and to produce credence goods and high-quality services in non-profit organizations while involving workers oriented towards serving the society.

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7

d’Andria, Diego. "The economics of professional services: lemon markets, credence goods, and C2C information sharing." Service Business 7, no. 1 (April 8, 2012): 1–15. http://dx.doi.org/10.1007/s11628-012-0143-0.

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8

Dulleck, Uwe, and Rudolf Kerschbamer. "On Doctors, Mechanics, and Computer Specialists: The Economics of Credence Goods." Journal of Economic Literature 44, no. 1 (February 1, 2006): 5–42. http://dx.doi.org/10.1257/002205106776162717.

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Most of us need the services of an expert when our apartment's heating or our washing machine breaks down, or when our car starts to make strange noises. And for most of us, commissioning an expert to solve the problem causes concern. This concern does not disappear even after repair and payment of the bill. On the contrary, one worries about paying for a service that was not provided or receiving some unnecessary treatment. This article studies the economics underlying these worries. Under which conditions do experts have an incentive to exploit the informational problems associated with markets for diagnosis and treatment? What types of fraud exist? What are the methods and institutions for dealing with these informational problems? Under which conditions does the market provide incentives to deter fraudulent behavior? And what happens if all or some of those conditions are violated?

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9

Gottschalk, Felix C. H. "Why prevent when it does not pay? Prevention when health services are credence goods." Health Economics 28, no. 5 (February 27, 2019): 693–709. http://dx.doi.org/10.1002/hec.3874.

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10

Kerschbamer, Rudolf, Daniel Neururer, and Matthias Sutter. "Insurance coverage of customers induces dishonesty of sellers in markets for credence goods." Proceedings of the National Academy of Sciences 113, no. 27 (June 20, 2016): 7454–58. http://dx.doi.org/10.1073/pnas.1518015113.

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Honesty is a fundamental pillar for cooperation in human societies and thus for their economic welfare. However, humans do not always act in an honest way. Here, we examine how insurance coverage affects the degree of honesty in credence goods markets. Such markets are plagued by strong incentives for fraudulent behavior of sellers, resulting in estimated annual costs of billions of dollars to customers and the society as a whole. Prime examples of credence goods are all kinds of repair services, the provision of medical treatments, the sale of software programs, and the provision of taxi rides in unfamiliar cities. We examine in a natural field experiment how computer repair shops take advantage of customers’ insurance for repair costs. In a control treatment, the average repair price is about EUR 70, whereas the repair bill increases by more than 80% when the service provider is informed that an insurance would reimburse the bill. Our design allows decomposing the sources of this economically impressive difference, showing that it is mainly due to the overprovision of parts and overcharging of working time. A survey among repair shops shows that the higher bills are mainly ascribed to insured customers being less likely to be concerned about minimizing costs because a third party (the insurer) pays the bill. Overall, our results strongly suggest that insurance coverage greatly increases the extent of dishonesty in important sectors of the economy with potentially huge costs to customers and whole economies.

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11

Hassan, Masood, Muhammad Adnan Bashir, and Muhammad Azeem Qureshi. "Descriptive Dimensions of Brand Equity in Service Sector of Pakistan: A Literature Review." NICE Research Journal 13, no. 4 (December 30, 2020): 147–77. http://dx.doi.org/10.51239/nrjss.v13i4.230.

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In the industry of goods, the product is the primary brand. However, with services, the company is the primary brand. Branding is not for visible goods but also a significant factor of performance for services. The ability to educate consumers of their expertise and credence values before the order has contributed to the general awareness of the value of products in the service industry in relation to consumer preference. If the brand is an essential consideration in any campaign initiative, it is crucial to consider the meaning of its equity. Brand value is the confidence gained in a brand regardless of customer experience. Because of the strategic advantages of established and established products, brand value is significant. Brand equity can make a significant contribution to the visualization of intangible goods for service companies. Given that there is no research available, this study seeks to suggest descriptive brand equity dimensions in Pakistan's service markets. The history is regarded as Brand Loyalty, Brand Awareness, Brand Association, Brand Perceived Quality, Brand Image, Brand Trust, Brand Credibility as antecedents of brand equity in services markets. This research is focused on the literature review and specifics are discussed. A systemic literature review approach for extracting the existing literature of desire has been used.

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12

Oliver, Jason. "The consumer’s perspective on evaluating products: service is the key." Journal of Services Marketing 29, no. 3 (May 11, 2015): 200–210. http://dx.doi.org/10.1108/jsm-07-2014-0248.

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Purpose – This paper aims to begin to remedy deficiencies in the understanding of how the increased focus on service, even in manufacturing environments, relates to consumer desire for relationships. The role of relationships in both services and physical goods has taken on a new meaning that should be further explored. Design/methodology/approach – The qualitative study reported in this paper examines the extent to which consumers feel that they are in relationships with companies from a variety of product categories that range from search goods (easy to evaluate in advance of purchase) to credence goods (difficult to evaluate). The analysis is based on semi-structured interviews with 20 customers. Findings – The results identify when consumers place an emphasis on specific relational behaviors in evaluating the product use experience. Specifically, trust, commitment and expertise seemed more important when products were difficult to evaluate in advance, whereas social benefits and special treatment were mentioned with search and credence products more than experience products. Research limitations/implications – The results are exploratory and should be replicated and extended utilizing a larger, more representative sample before they are generalized to market. Practical implications – The results have important implications for practitioners in both manufacturing and service industries, as they decide when and how to differentiate their service components and pursue relationships with consumers. Firms need to stand out from a service perspective. Originality/value – The manuscript develops a more robust understanding of the relational behaviors that matter to customers and provides recommendations about how to best manage them.

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13

Tambovtsev, Vitaly, and Irina Rozhdestvenskaya. "Higher education quality management: What is “quality” and what is “higher education”?" Upravlenets 11, no. 1 (March 4, 2020): 2–14. http://dx.doi.org/10.29141/2218-5003-2020-11-1-1.

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The paper studies the problem of assessing the quality of higher education in the Russian Federation. The problem is rooted in the ambiguous understanding of the concept of quality and the variability of the meaning of higher education, primarily, its arguable connection with obtaining a specific professional education. The methodology relies on the principles of modern economic theory and the results of social psychology and assessment theory, thereby demonstrating a cross-disciplinary character. Based on the provisions and approaches mentioned above, we find that the concept of quality has at least four possible interpretations, and the concept of higher education has three of them, while the current regulatory documents do not fully cover them. Proceeding from the fact that higher education services are credence goods for students, the research proves that students cannot act as the subject of quality assessment. The analysis performed in the paper demonstrates the plethora of options for assessing the quality of higher education, the number of which attains at least 396. The study formulates concrete proposals for modernization of the existing system of higher education quality assessment in Russia.

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14

Arowosafe, F. C., C. J. W. Kuuder, and D. T. Bokyaa. "UNDERSTANDING VISITOR PREFERENCES IN OLD OYO NATIONAL PARK, NIGERIA." UDS International Journal of Development 7, no. 2 (February 24, 2021): 424–36. http://dx.doi.org/10.47740/502.udsijd6i.

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This study sheds light on visitors’ preferences in Old Oyo National Park (Nigeria) and how these preferences contributed to their travel experience. A total of 120 visitors were reached via convenience sampling employing questionnaire administration. Their preferences were measured with the aid of a Likert scale and choice cards. Data collected were analyzed using descriptive statistics and conditional logit specification for inferential statistics. The results revealed that entrance fees, availability of affordable chalet accommodation, wildlife viewing opportunities and visits to the relics of the old city wall of Oyo Ile were the significant site predictors of choosing the park as a preferred tourist destination. Easy access within the park and good staff courtesies also had high means of 4.21 and 4.16 respectively, demonstrating site features and hospitality services rendered lends credence to visitor decision on destination choice. The park management needs to continually research on attractions and make efforts at improving such to entice repeat visits. Keywords: Old Oyo National Park, Hospitality Services, Visitor Preferences, Site Features, Experiences

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15

Emons, Winand. "Credence goods monopolists." International Journal of Industrial Organization 19, no. 3-4 (March 2001): 375–89. http://dx.doi.org/10.1016/s0167-7187(99)00023-5.

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16

Thambisetty, S. "Patents as Credence Goods." Oxford Journal of Legal Studies 27, no. 4 (January 1, 2007): 707–40. http://dx.doi.org/10.1093/ojls/gqm021.

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17

Emons, Winand. "Credence Goods and Fraudulent Experts." RAND Journal of Economics 28, no. 1 (1997): 107. http://dx.doi.org/10.2307/2555942.

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18

Ekelund, Robert B., and Mark Thornton. "Extreme Credence and Imaginary Goods." Atlantic Economic Journal 47, no. 3 (September 2019): 361–71. http://dx.doi.org/10.1007/s11293-019-09634-5.

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19

Kim, R. " Determinants of brand equity for credence goods: Consumers’ preference for country origin, perceived value and food safety." Agricultural Economics (Zemědělská ekonomika) 58, No. 7 (July 23, 2012): 299–307. http://dx.doi.org/10.17221/45/2012-agricecon.

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Food safety is an important credence attribute that is increasingly being emphasized by the food industry, regulatory bodies and the consumers around the world. Consumers cannot predict ex ante performance of the product based on the credence attributes due to information asymmetry, and they need a signal that they can trust in purchasing a food product with high credence attributes. Consumers are likely to use a brand name as a surrogate of the quality and the safety guarantee in purchasing food products with credence attributes. An effective brand management appears to be a major prerequisite for the creation of superior customer value (i.e. brand equity) and successful positioning of credence goods. This study empirically validates four determinant conceptualization of brand equity for credence goods by utilizing the Latent Variable Structural Equation Modeling (LVSE). Findings support the four factor model of brand equity for credence goods. The main objective of this study is to illustrate how consumers place value on major product cues in making purchasing decision of credence products. The findings show that brand loyalty and attribute based components (i.e. perceived value) appears to have the dominant role in determining a brand’s equity.  

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20

King, Ronald R., Shawn M. Davis, and Natalia Mintchik. "Mandatory Disclosure of the Engagement Partner's Identity: Potential Benefits and Unintended Consequences." Accounting Horizons 26, no. 3 (May 1, 2012): 533–61. http://dx.doi.org/10.2308/acch-50201.

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SYNOPSIS This paper contributes to the deliberations on the potential consequences of requiring disclosure of the engagement partner's identity in the audit report. The PCAOB has recently suggested that this requirement will lead to enhanced audit quality due to increased engagement partner accountability and improved transparency of the audit process. The goal of our commentary is to examine this issue by considering factors that potentially affect audit quality in appearance and audit quality in fact, and applying insights from three distinct academic frameworks: source credibility, accountability, and the theory of affordances. While prior evidence from source credibility research implies that a mandatory signature will likely increase audit quality in appearance, its impact on audit quality in fact remains unclear. Academic literature suggests that increased accountability will increase audit effort but is silent on the associated increase in audit effectiveness. As a result, mandatory disclosure is likely to increase the risk of over-auditing because audit services have the essential characteristics of a credence good. As for an increase in audit quality in appearance, the question remains whether the current perception of audit quality is too low or too high. The increase in public perceptions of audit quality without an associated increase in actual quality is a desirable accomplishment only when public perception of quality is below actual audit quality. Otherwise, the measure increases the gap between delivered audit quality and public perceptions of it. We suggest specific research opportunities in this area.

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21

Hamed M Almalki. "Classifying academic staff according to their satisfaction as part of quality improvement project." Global Journal of Engineering and Technology Advances 13, no. 1 (October 30, 2022): 059–66. http://dx.doi.org/10.30574/gjeta.2022.13.1.0175.

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Accreditation by a reputable organization, such as the National Commission for Academic Accreditation and Assessment (NCAAA) or the Accreditation Board for Engineering and Technology (ABET), is a requirement for academic institutions to provide superior educational services. The challenge of quality improvement (QI) in education is still very real. Effective quality procedures in academic institutions depend on a number of quality factors, including work satisfaction and effective communication. Positive academic satisfaction and strong communication skills will not only improve the working atmosphere and boost productivity, but they will also increase job satisfaction. This quantitative research study's objectives are to examine organizational communication, define communication styles, and gauge work satisfaction at an engineering college. An online survey that is based on a questionnaire is used to gather information about job satisfaction. The perceptions of the respondents were gauged using five-point Likert-type scales. The scope of the study encompassed the entire population, or the entire academic staff employed by the college. The academic staff is divided into groups using factor analysis, which subsequently identifies a number of intriguing QI topics. The findings of this study also provide credence to the idea that academic staff members who have supportive leaders, good working conditions, and a maximized feeling of perceived job security exhibit much better levels of general academic job satisfaction. The authors feel that the same methodologies and assessments can be utilized in any kind of study, even if this case is focused on a single college of engineering.

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22

Fong, Yuk-fai, Ting Liu, and Xiaoxuan Meng. "Trust Building in Credence Goods Markets." American Economic Journal: Microeconomics 14, no. 1 (February 1, 2022): 490–528. http://dx.doi.org/10.1257/mic.20180313.

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We study trust building in credence-goods markets in a dynamic setting. When consumers’ expected loss is low and it is efficient to fix only the more severe problem, there is no trade in the one-shot game. In the repeated game, an expert’s honesty is monitored through consumers’ rejection of his recommendations. The expert’s profit in the optimal equilibrium weakly increases in the discount factor but does not achieve the first best, which contrasts sharply with the optimal equilibrium in experience-goods markets. The optimal equilibrium involves undertreatment if the expert is sufficiently patient, and overtreatment if he is moderately patient. (JEL C73, D82, D83, Z13)

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23

Gabszewicz, Jean J., and Joana Resende. "Differentiated credence goods and price competition." Information Economics and Policy 24, no. 3-4 (December 2012): 277–87. http://dx.doi.org/10.1016/j.infoecopol.2012.09.001.

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24

Bonroy, Olivier, Stéphane Lemarié, and Jean-Philippe Tropéano. "Credence goods, experts and risk aversion." Economics Letters 120, no. 3 (September 2013): 464–67. http://dx.doi.org/10.1016/j.econlet.2013.05.033.

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25

Levin, M. I., and E. V. Pertsova. "Credence Goods Markets and their Ineffi ciency." Finance and business 14, no. 4 (2018): 14–23. http://dx.doi.org/10.31085/1814-4802-2018-14-4-14-23.

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26

Bester, Helmut, and Matthias Dahm. "Credence Goods, Costly Diagnosis and Subjective Evaluation." Economic Journal 128, no. 611 (July 28, 2017): 1367–94. http://dx.doi.org/10.1111/ecoj.12472.

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27

DULLECK, UWE, JIONG GONG, and JIANPEI LI. "Contracting for Infrastructure Projects as Credence Goods." Journal of Public Economic Theory 17, no. 3 (May 4, 2015): 328–45. http://dx.doi.org/10.1111/jpet.12117.

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28

Grolleau, Gilles, and Sandoss BenAbid. "Fair trading in markets for credence goods." Intereconomics 36, no. 4 (July 2001): 208–14. http://dx.doi.org/10.1007/bf02929977.

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29

Baksi, Soham, Pinaki Bose, and Di Xiang. "Credence Goods, Misleading Labels, and Quality Differentiation." Environmental and Resource Economics 68, no. 2 (April 22, 2016): 377–96. http://dx.doi.org/10.1007/s10640-016-0024-4.

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30

Sülzle, Kai, and Achim Wambach. "Insurance in a Market for Credence Goods." Journal of Risk and Insurance 72, no. 1 (February 18, 2005): 159–76. http://dx.doi.org/10.1111/j.0022-4367.2005.00119.x.

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31

Fong, Yuk-fai, and Ting Liu. "Liability and reputation in credence goods markets." Economics Letters 166 (May 2018): 35–39. http://dx.doi.org/10.1016/j.econlet.2018.01.027.

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32

Baksi, Soham, and Pinaki Bose. "Credence Goods, Efficient Labelling Policies, and Regulatory Enforcement." Environmental and Resource Economics 37, no. 2 (October 24, 2006): 411–30. http://dx.doi.org/10.1007/s10640-006-9032-0.

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33

Liu, Ting. "CREDENCE GOODS MARKETS WITH CONSCIENTIOUS AND SELFISH EXPERTS*." International Economic Review 52, no. 1 (February 2011): 227–44. http://dx.doi.org/10.1111/j.1468-2354.2010.00626.x.

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34

Causholli, Monika, and W. Robert Knechel. "An Examination of the Credence Attributes of an Audit." Accounting Horizons 26, no. 4 (August 1, 2012): 631–56. http://dx.doi.org/10.2308/acch-50265.

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SYNOPSIS: An audit consists of two main components: (1) the assessment of risk, and (2) the planning and execution of audit procedures. Both activities require a great deal of professional judgment. In this sense, the auditor is an expert who is best positioned to assess the risk and to conduct the audit in accordance with professional auditing standards. We use a simple decision-making framework to illustrate an auditor's possible strategies when an auditee cannot directly determine the effort level required to conduct an audit appropriately. We discuss and compare three economic perspectives for the audit: search goods, experience goods, and credence goods. Based on the economic theory of credence goods, we predict that a seller has incentives to act strategically when buyers are faced with considerable uncertainties relating to a service they purchase. Specifically, we argue that an auditor might have incentives to (1) under-audit, (2) over-audit, or (3) overcharge. These strategic actions have important implications for audit quality, efficiency, and regulation. We also discuss the professional and institutional arrangements that serve to limit the strategic behavior of auditors. Finally, we discuss previous empirical and behavioral audit evidence in the context of the credence aspects of an audit.

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35

Balineau, Gaëlle, and Ivan Dufeu. "Are Fair Trade Goods Credence Goods? A New Proposal, with French Illustrations." Journal of Business Ethics 92, S2 (April 2010): 331–45. http://dx.doi.org/10.1007/s10551-010-0577-z.

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36

Dulleck, Uwe, Rudolf Kerschbamer, and Matthias Sutter. "The Economics of Credence Goods: An Experiment on the Role of Liability, Verifiability, Reputation, and Competition." American Economic Review 101, no. 2 (April 1, 2011): 526–55. http://dx.doi.org/10.1257/aer.101.2.526.

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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, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to higher efficiency as long as liability is violated. (JEL D12, D82)

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37

Momsen, Katharina. "Recommendations in credence goods markets with horizontal product differentiation." Journal of Economic Behavior & Organization 183 (March 2021): 19–38. http://dx.doi.org/10.1016/j.jebo.2020.12.018.

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38

Jost, Peter-J., Steffen Reik, and Anna Ressi. "The information paradox in a monopolist’s credence goods market." International Journal of Industrial Organization 75 (March 2021): 102694. http://dx.doi.org/10.1016/j.ijindorg.2020.102694.

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39

Momsen, Katharina. "Recommendations in credence goods markets with horizontal product differentiation." Journal of Economic Behavior & Organization 183 (March 2021): 19–38. http://dx.doi.org/10.1016/j.jebo.2020.12.018.

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40

Tang, Johnny Jiahao. "Individual heterogeneity and cultural attitudes in credence goods provision." European Economic Review 126 (July 2020): 103442. http://dx.doi.org/10.1016/j.euroecorev.2020.103442.

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41

Bonroy, Olivier, and Christos Constantatos. "On the use of labels in credence goods markets." Journal of Regulatory Economics 33, no. 3 (February 5, 2008): 237–52. http://dx.doi.org/10.1007/s11149-008-9058-z.

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42

Engel, Stefanie. "Overcompliance, labeling, and lobbying: The case of credence goods." Environmental Modeling & Assessment 11, no. 2 (March 28, 2006): 115–30. http://dx.doi.org/10.1007/s10666-005-9030-6.

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43

Klinger, Sebastian, Karen M. Bayne, Richard T. Yao, and Tim Payn. "Credence Attributes in the Forestry Sector and the Role of Environmental, Social and Governance (ESG) Factors." Forests 13, no. 3 (March 9, 2022): 432. http://dx.doi.org/10.3390/f13030432.

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Credence or believability are paramount values in trade. The role of products’ credence attributes has been well-analysed in the agricultural and food sector. This study examined the application of credence attributes to forest management and forest products marketing for the first time. We describe specific credence attributes of forest products and highlight their values, benefits, and importance in international trade. We used Delphi interviews of experts and surveyed forest and trade experts to assess the perceived merits of credence attributes in the forestry sector. We also compared certification schemes and sustainable forest management (SFM) indicators against credence values. We found that credence attributes play an important role in the forestry sector for both timber forest products and non-timber forest products (NTFP). While some credence attributes, such as the legality of forest products, already form the basis for trade and certification and are standard practice, other credence attributes are rising in awareness and could potentially create new markets. This study revealed the potential value of health aspects of forest products, particularly regarding NTFP and recreational services. Certification schemes and SFM provide credence at a collective level, and must encompass the rising importance of individual credence attributes of these newer important values. Last, we summarized the emerging environmental, social, and governance (ESG) investment practices to assess how credence factors may help affect such investments. Awareness of credence attributes can inform ESG criteria, certification schemes, and sustainable forest management frameworks about present or potentially future market expectations. Sustaining and enhancing natural capital and the flow of ecosystem services they provide, as well as social and human capital, will play an increasingly important role for forestry companies in the next decade. A better understanding of forestry credence attributes can inform the management of ESG of forestry industries and markets more effectively.

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Dong, Wei, Yongmei Liu, Zhangxiang Zhu, and Xianye Cao. "The Impact of Ambivalent Attitudes on the Helpfulness of Web-Based Reviews: Secondary Analysis of Data From a Large Physician Review Website." Journal of Medical Internet Research 25 (May 29, 2023): e38306. http://dx.doi.org/10.2196/38306.

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Background Previously, most studies used 5-star and 1-star ratings to represent reviewers’ positive and negative attitudes, respectively. However, this premise is not always true because individuals’ attitudes have more than one dimension. In particular, given the credence traits of medical service, to build durable physician-patient relationships, patients may rate their physicians with high scores to avoid lowering their physicians’ web-based ratings and help build their physicians’ web-based reputations. Some patients may express complaints only in review texts, resulting in ambivalence, such as conflicting feelings, beliefs, and reactions toward physicians. Thus, web-based rating platforms for medical services may face more ambivalence than platforms for search or experience goods. Objective On the basis of the tripartite model of attitudes and uncertainty reduction theory, this study aims to consider both the numerical rating and sentiment of each web-based review to explore whether there is ambivalence and how ambivalent attitudes influence the helpfulness of web-based reviews. Methods This study collected 114,378 reviews of 3906 physicians on a large physician review website. Then, based on existing literature, we operationalized numerical ratings as the cognitive dimension of attitudes and sentiment in review texts as the affective dimension of attitudes. Several econometric models, including the ordinary least squares model, logistic regression model, and Tobit model, were used to test our research model. Results First, this study confirmed the existence of ambivalence in each web-based review. Then, by measuring ambivalence through the inconsistency between the numerical rating and sentiment for each review, this study found that the ambivalence in different web-based reviews has a different impact on the helpfulness of the reviews. Specifically, for reviews with positive emotional valence, the higher the degree of inconsistency between the numerical rating and sentiment, the greater the helpfulness is (βpositive 1=.046; P<.001). For reviews with negative and neutral emotional valence, the impact is opposite, that is, the higher the degree of inconsistency between the numerical rating and sentiment, the lesser the helpfulness is (βnegative 1=−.059, P<.001; βneutral 1=−.030, P=.22). Considering the traits of the data, the results were also verified using the logistic regression model (θpositive 1=0.056, P=.005; θnegative 1=−0.080, P<.001; θneutral 1=−0.060, P=.03) and Tobit model. Conclusions This study confirmed the existence of ambivalence between the cognitive and affective dimensions in single reviews and found that for reviews with positive emotional valence, the ambivalent attitudes lead to more helpfulness, but for reviews with negative and neutral emotion valence, the ambivalence attitudes lead to less helpfulness. The results contribute to the web-based review literature and inspire a better design for rating mechanisms in review websites to enhance the helpfulness of reviews.

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Eisingerich, Andreas B., and Simon J. Bell. "Maintaining customer relationships in high credence services." Journal of Services Marketing 21, no. 4 (July 10, 2007): 253–62. http://dx.doi.org/10.1108/08876040710758559.

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Grolleau, Gilles, and Sandoss BenAbid. "Purchasing Power and Process Attributes: Some Preliminary Considerations in the Arena of International Trade." Journal of Interdisciplinary Economics 12, no. 3 (April 2001): 289–95. http://dx.doi.org/10.1177/02601079x01001200305.

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We analyse the implications of regulating market-based process attributes in an international trade context. We apply our work to agro-food products by providing anecdotal evidences. To guarantee fair trading in open market-based credence goods, we underline the importance of the defining stage prior to the stages of monitoring and signalling hidden credence properties. We briefly discuss some implications of marketing process attributes in the context of international trade, notably by stressing the need for international co-operation. JEL Classification Numbers: D 82, F 13, Q 18, L 15

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Afiuc, Otto. "QUALITY SIGNAL OF CREDENCE GOODS: A CORPORATE SOCIAL RESPONSIBILITY PERSPECTIVE." Global Fashion Management Conference 2020 (November 5, 2020): 1389–93. http://dx.doi.org/10.15444/gmc2020.10.06.01.

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Afiuc, Otto. "QUALITY SIGNALLING OF CREDENCE GOODS: A CORPORATE SOCIAL RESPONSIBILITY PERSPECTIVE." Global Fashion Management Conference 2020 (November 5, 2020): 1401–2. http://dx.doi.org/10.15444/gmc2020.10.06.03.

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Feddersen, Timothy J., and Thomas W. Gilligan. "Saints and Markets: Activists and the Supply of Credence Goods." Journal of Economics & Management Strategy 10, no. 1 (March 1, 2001): 149–71. http://dx.doi.org/10.1162/105864001300122584.

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Feddersen, Timothy J., and Thomas W. Gilligan. "Saints and Markets: Activists and the Supply of Credence Goods." Journal of Economics Management Strategy 10, no. 1 (March 2001): 149–71. http://dx.doi.org/10.1111/j.1430-9134.2001.00149.x.

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