Professional Diagnosis vs. Self-Diagnosis: An Experimental Examination of Some Special Features of Markets with Uncertainty

Abstract

Many people feel that the performance of certain industries has been below expectations and that additional legislative or regulatory action is required. The United States automotive service and repair industry has been a major source of consumer dissatisfaction and complaint. Physicians are subject to frequent criticisms. Insurance salesmen as well as the companies themselves are often suspected of misleading uninformed consumers. In response to public pressures and criticisms of these industries a variety of policies and reforms have been suggested.