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. …

perception frictions. The model explains adaptive risk attitudes and probability weighting as in prospect theory and …

I show how changes in competition affect the power of reputation to induce sellers to exert effort. The impact of …. To guide the empirical analysis, I develop a model of reputation where the relative number of hosts and guests affects … the value of building a reputation through effort. In this framework, more competition depresses hosts' profits and leads …