conduct and benefit from the club's reputation. I show that if the testing technology is perfect and costless, the choice of …

Article draws upon economic analyses of industrial organization and principal-agent theory to illuminate the tensions caused …

This article deals with the issue of entry into an industry where firms share a collective reputation. First, we show …

We study a firm's incentives to build and maintain reputation for quality, when quality is persistent and can be … investment– depend only on the firm's reputation. MPE vary in frequency of certification and payoffs, but are generally …

a firm with a low reputation to reestablish itself. But, the ability to promote can crowd out incentives for investment … at high reputations; the firm allows its reputation to decay more before it is renewed relative to a firm motivated by …