The Robustness of Lemons in Experimental Markets

Blake Dunkle, R. Isaac and Philip Solimine

A chapter in Experimental Law and Economics, 2022, vol. 21, pp 201-216 from Emerald Group Publishing Limited

Abstract: In this chapter, the authors conduct a robustness study for the classic experimental results of Lynch, Miller, Plott, and Porter (1986,1991). The authors find strong support for the original hypotheses in an updated experimental marketplace, consisting of dichotomous product qualities, non-binding signals of product quality, fixed seller identifiers, and an end-point design of deliberate ambiguity. The authors show that fixed identifiers alone are not sufficient devices to support efficient outcomes in these updated market conditions.

Keywords: Experimental markets; replication and robustness; consumer protection; lemons market; reputation; product quality (search for similar items in EconPapers)
Date: 2022
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Working Paper: The Robustness of Lemons in Experimental Markets (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:eme:rexezz:s0193-230620220000021009

DOI: 10.1108/S0193-230620220000021009

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