Credence good: Encyclopedia - Credence good

Credence good

A credence good is a term used in economics for a good whose utility impact is difficult or impossible for the consumer to ascertain, unlike experience goods the utility gain or loss is difficult to measure after consumption as well. The seller of the good knows the utility impact of the good, creating a situation of asymmetric information. Examples of credence goods include;

• Vitamin supplements.
• Education.

collective good (social good) - private good - common good - common-pool resource - club good - public good - global public good - Accounting good

durable good - non-durable good - intermediate good (producer good) - final good - consumer good - capital good.
Giffen good - inferior good - normal good - luxury good - Veblen good - superior good
search good - experience good - post-experience good - merit good - credence good

Adapted from the Wikipedia article "Credence good", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki