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Published March 27, 2014 | Accepted Version
Report Open

Toward a Theory of Professional Diagnosis and Service: Consumer Behavior

Abstract

A model is developed for situations in which consumers depend upon producers of a good or service for information which has an impact on their demand. Nonsupply sources of information do not exist and consumers are forced to rely on comparisons between suppliers as their only check on potential fraud. The optimal search strategies are characterized and some of the implications for the resulting patterns of advice are analyzed.

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Accepted Version - towards_20a_20theor_20of_20professional_20diagnosis_20and_20service.pdf

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Additional details

Created:
August 19, 2023
Modified:
March 5, 2024