Related papers: Credibility in Credence Goods Markets
This paper studies the persuasion of a receiver who accesses information only if she exerts costly attention effort. A sender designs an experiment to persuade the receiver to take a specific action. The experiment affects the receiver's…
This paper proposes a theory of pricing premised upon the assumptions that customers dislike unfair prices---those marked up steeply over cost---and that firms take these concerns into account when setting prices. Since they do not observe…
Credibility theory provides tools to obtain better estimates by combining individual data with sample information. We apply the Credibility theory to a Uniform distribution that is used in testing the reliability of forecasting an interest…
Motivated by the prevalence of prediction problems in the economy, we study markets in which firms sell models to a consumer to help improve their prediction. Firms decide whether to enter, choose models to train on their data, and set…
A sender seeks to persuade a receiver by presenting evidence obtained through a sequence of private experiments. The sender has complete flexibility in his choice of experiments, contingent on the private experimentation history. The sender…
Online platforms collect rich information about participants and then share some of this information back with them to improve market outcomes. In this paper we study the following information disclosure problem in two-sided markets: If a…
The popularity of online shopping is steadily increasing. At the same time, fake product reviewsare published widely and have the potential to affect consumer purchasing behavior. In response,previous work has developed automated methods…
This paper proposes a method for estimating consumer preferences among discrete choices, where the consumer chooses at most one product in a category, but selects from multiple categories in parallel. The consumer's utility is additive in…
Proper scoring rules incentivize experts to accurately report beliefs, assuming predictions cannot influence outcomes. We relax this assumption and investigate incentives when predictions are performative, i.e., when they can influence the…
We elicit incomplete preferences over monetary gambles with subjective uncertainty. Subjects rank gambles, and these rankings are used to estimate preferences; payments are based on estimated preferences. About 40\% of subjects express…
In many online platforms, customers' decisions are substantially influenced by product rankings as most customers only examine a few top-ranked products. Concurrently, such platforms also use the same data corresponding to customers'…
Suppliers (including companies and individual prosumers) may wish to protect their private information when selling items they have in stock. A market is envisaged where private information can be protected through the use of differential…
Recommender system has been deployed in a large amount of real-world applications, profoundly influencing people's daily life and production.Traditional recommender models mostly collect as comprehensive as possible user behaviors for…
An analyst is tasked with producing a statistical study. The analyst is not monitored and is able to manipulate the study. He can receive payments contingent on his report and trusted data collected from an independent source, modeled as a…
In this article, we analyze the application of options contract in special commodity supply chain such as fresh agricultural products. This problem is discussed in the point of the retailer. When spot market and future market are both…
Positive feedback trading, which buys when prices rise and sells when prices fall, has long been criticized for being destabilizing as it moves prices away from the fundamentals. Motivated by the relationship between positive feedback…
Web search engines apply a variety of ranking signals to achieve user satisfaction, i.e., results pages that provide the best-possible results to the user. While these ranking signals implicitly consider credibility (e.g., by measuring…
Many online marketplaces personalize prices based on consumer attributes. Since these prices are private, consumers may be unaware that they have spent more on a good than the lowest possible price, and cannot easily take action to pay…
We study the diffusion of a true and a false message (misinformation) when agents are biased and able to verify messages. As a recipient of a false message who verifies it becomes informed of the truth, a higher prevalence of misinformation…
In many settings, an effective way of evaluating objects of interest is to collect evaluations from dispersed individuals and to aggregate these evaluations together. Some examples are categorizing online content and evaluating student…