Construct · 1 fields · 1 citations

credence goods: a standalone construct

One name. One construct. A landmark on the map.

● anchor · a standalone construct Nearest construct by meaning·not indexed

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Economics

goods or services whose quality the buyer cannot fully verify even after using them, such as repairs or medical care.

In economics, credence goods refers to goods or services whose quality the buyer cannot fully verify even after using them, such as repairs or medical care. This meaning comes from Darby (1973) in The Journal of Law and Economics.[1]

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Nearby constructs

quality6 fields · 13 citationsjingle · one name, six constructs

References

Darby, M. R., & Karni, E. (1973). Free Competition and the Optimal Amount of Fraud. The Journal of Law and Economics, 16(1), 67-88. https://doi.org/10.1086/466756

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