In this paper we analyze a reputation-based mechanism that sustains the provision of high quality in a market for an … experience good. In contrast to existing models of reputation, however, we consider a competitive market: there is a continuum of … an invariant long run distribution of firms' reputations: each firm's reputation changes every period even in the long …

Economic models of reputation make strong assumptions about the information available to players.  In particular, it is … observe in the real world.  We build a model of reputation with more realistic assumptions about the partial knowledge of the …

-weighted information may be maximized by a different regime, in which all replying is anonymous. Reputation effects play a key role in our …

collective reputation with the wider membership of her cabinet; we show that heterogeneity of cabinet membership can play an …

high quality. A firm may want to start over under a new name in order to avoid market punishment, if the reputation carried …

price-takers. Entrants have an endogenous reputation uE. In the steady-state equilibrium, uE is the lowest reputation among …

changed at zero cost.  This paper examines the reputation mechanisms that keep this market working and considers whether they …