Costa, Luis Almeida e; Vasconcelos, Luis - Faculdade de Economia, Universidade Nova de Lisboa - 2008
We use an adverse selection model to study the dynamics of ?rms?reputations when ?rms implement joint projects. We show that in contrast with projects implemented by a single ?rm, in the case of joint projects a ?rm?s reputation does not necessarily increase following a success and does not...