behavior, but may cause the manager to pursue conservative courses of action to preserve his reputation. This undermines the …

In economic approaches it is often argued that reputation considerations influence the behavior of individuals or firms … and that reputation influences the outcome of markets. Empirical evidence is rare though. In this contribution we argue … that a positive reputation of sellers should have an effect on selling prices. Analyzing auctions of popular DVDs at eBay …

Is the reputation of a firm tradable when the change in ownership is observable? We consider a competitive market in …-value customers. Hence reputation is a tradable intangible asset, although ownership change is observable. …

This paper derives conditions under which reputation enables certifiers to resist capture. These conditions alone have … natural monopoly. 3) Price competition tends to a monopolization. The results derive from a general principle of reputation … efficient market institutions that sell reputation as a service to other firms. …