makes ratings effective, reputation systems, as currently designed, sow the seeds of their own irrelevance …

We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which … price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions … independent experts, despite doing substantially less business. In addition, more experienced experts attract more complaints per …

firm invests, and the market shuts down. Learning introduces reputation incentives such that a fraction of entrants do … invest. If the market operates with spot prices, simple regulation can enhance the role of reputation to induce investment …

Collective reputation implies an important externality. Among firms trading internationally, quality shocks about one … noninspected firms. These findings highlight the importance of collective reputation in international trade and the challenges … the strength of the reputation spillover. We find that the spillover effects are smaller in destinations where people have …

Reputation is critical to foster trust in online marketplaces, yet leaving feedback is a public good that can be under …

reputation. Cycles arise because investment in reputation causes self-fulfilling changes in the discount factor. Cycles are more …