Showing 1 - 10 of 14
In this paper we develop a theory of patenting in which a firm preserves its reputation to only apply for a patent … reputation to be preserved in equilibrium and analyze which market environments are favorable for such an equilibrium to exist …
Persistent link: https://www.econbiz.de/10010877828
emerging economies. We show that governments in emerging economies are more concerned about their reputation and tend to ride … that would help prevent potential crises. We provide evidence of the relevance of this reputation mechanism. …
Persistent link: https://www.econbiz.de/10010888458
A main puzzle in the sovereign debt literature is that defaults have only minor effects on subsequent borrowing costs and access to credit. This paper comes to a different conclusion. We construct the first complete database of investor losses (“haircuts”) in all restructurings with foreign...
Persistent link: https://www.econbiz.de/10009325807
preferences in combination with reputation opportunities keep principals from abusing their power, leading to the widespread …
Persistent link: https://www.econbiz.de/10010604419
equilibria share some features with the ones of multi-sided reputation models. …
Persistent link: https://www.econbiz.de/10010752435
This paper considers the effects of an interim performance evaluation on the decision of a principal to delegate authority to a potentially biased but better informed agent. Assuming the agents’ outside option to be determined by market beliefs about their type, interim evaluations (a) provide...
Persistent link: https://www.econbiz.de/10010639425
This paper looks at how the reputation of a monetary policy making committee is jointly determined with the reputations … of its individual members. I ask whether individuals ha ve more or less incentive to gain a reputation for being tough on …
Persistent link: https://www.econbiz.de/10005765744
Recent evidence highlights the importance of social norms in many economic relations. However, many of these relationships are long-term and provide repeated game incentives for performance. We experimentally investigate interaction effects of reciprocity and repeated game incentives in two...
Persistent link: https://www.econbiz.de/10005765855
build up a reputation for producing little, so that the output price increases in the market, and this increases the auction …
Persistent link: https://www.econbiz.de/10005765994
This paper discusses the literature on the enforcement of incomplete contracts. It compares legal enforcement to enforcement via relationships and reputations. A number of mechanisms, such as the repeat purchase mechanism (Klein and Leffler (1981)) and efficiency wages (Shapiro and Stiglitz...
Persistent link: https://www.econbiz.de/10005766147