LLM experts in credence goods markets reduce efficiency and consumer surplus unless liability or transparent prosocial objectives operate, and expert delegation with transparent objectives can outperform human-only markets.
Credence goods markets, online infor- mation and repair prices: A natural field experiment
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From Digital Distrust to Codified Honesty: Experimental Evidence on Generative AI in Credence Goods Markets
LLM experts in credence goods markets reduce efficiency and consumer surplus unless liability or transparent prosocial objectives operate, and expert delegation with transparent objectives can outperform human-only markets.