Can ratings mitigate consumer inattention? Evidence from the Swedish housing market
研究瑞典公寓评级对销售价格和中介定价的影响，发现评级在线上展示后才产生间断性影响，且对高质量中介的效应更大，表明评级需高显著性才有效。
I study the effects of ratings designed to capture the financial risk associated with apartment ownership in Sweden. I find a discontinuous impact around rating thresholds on sales prices and real estate agents’ pricing decisions, but only after ratings started being displayed in online listings. This is not driven by changes in the number of bidders in apartment auctions. However, the magnitude of the rating effect is larger for sales administered by high- relative to low-quality real estate agents. My results suggest that ratings conveying financial information to consumers must ensure a high degree of salience to be effective. However, financial intermediaries remain likely to play a role in the transmission of such information.