https://market.subwiki.org/w/index.php?action=history&feed=atom&title=Credence_good 2026-05-07T20:30:06Z Revision history for this page on the wiki MediaWiki 1.41.2 https://market.subwiki.org/w/index.php?title=Credence_good&diff=98&oldid=prev 2009-03-19T14:50:08Z

<p>Created page with &#039;{{good property}} ==History== The notion of credence good was first explored in detail in the paper [[Paper:DarbyKarniCredence|&#039;&#039;Free competition and the optimal amount of frau...&#039;</p> <p><b>New page</b></p><div>{{good property}}<br /> <br /> ==History==<br /> <br /> The notion of credence good was first explored in detail in the paper [[Paper:DarbyKarniCredence|&#039;&#039;Free competition and the optimal amount of fraud&#039;&#039;]] by Darby and Karni, published in 1973.<br /> <br /> ==Definition==<br /> <br /> A &#039;&#039;&#039;credence good&#039;&#039;&#039; is a [[good]] for which it is hard for buyers to determine the total cost and benefit of the good to them even &#039;&#039;after&#039;&#039; purchase and use. More generally credence good may refer to a good whose utility or value to consumers is hard to determine.<br /> <br /> Credence goods are sometimes called &#039;&#039;&#039;post-experience goods&#039;&#039;&#039;. They differ from [[experience good]]s, for which it is hard for buyers to ascertain cost and value prior to purchase, but easy to determine cost and value after purchase.<br /> <br /> The problem of trying to determine the vlaue of credence goods, and understand the market mechanisms that determine prices for credence goods, is termed the [[credence good problem]].<br /> <br /> ==Examples==<br /> <br /> ===Diet===<br /> <br /> ===Health care===<br /> <br /> {{further|[[Credence good problem in health care]]}}<br /> <br /> ===Education===<br /> <br /> ==References==<br /> <br /> ===Journal references===<br /> <br /> * {{paperlink|DarbyKarniCredence}}<br /> * {{paperlink|RichardsonCredenceHealthcare}}<br /> * {{paperlink|CredenceGoodLabeling}}</div>

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