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Assurance Information: An Experimental Study


  • Larry R. Davis

    (Michigan Technological University)

  • Steven R. Elliott

    (Miami University)

  • Patrick Joyce

    (Michigan Technological University)


In this paper we investigate the market viability of new assurance services being marketed by accountants. Unlike traditional assurance services, such as financial statement audits, these services may be marketed directly to individual consumers, may vary in quality and may take some characteristics of public goods. Our results indicate that some decision-makers will purchase assurance information, but that many will not, even when priced below its risk neutral expected value. Further, our results suggest information users do not fully reflect the information's uncertainty in their purchase decisions, and free riding may occur if information takes some characteristics of a public good.

Suggested Citation

  • Larry R. Davis & Steven R. Elliott & Patrick Joyce, 2004. "Assurance Information: An Experimental Study," Journal of Economic Insight (formerly the Journal of Economics (MVEA)), Missouri Valley Economic Association, vol. 30(2), pages 69-95.
  • Handle: RePEc:mve:journl:v:30:y:2004:i:2:p:69-95

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    More about this item

    JEL classification:

    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty
    • M4 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting


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