business, are particularly vulnerable. Maintaining a positive reputation, however, is costly, leading to the potential for …

I study reputation effects under uncertain monitoring. I examine a repeated game between a long-run player and a series … uncertainty about the monitoring structure introduces new challenges to reputation building because there may not be a direct … ability to establish a reputation for commitment. I show that, when the short-run players cannot statistically distinguish …

sustainability constraint, that utility should not be expected to decline over time, in an economy with risky investment … opportunities. The sustainability constraint does not distort portfolio choice and implies a consumption-wealth ratio and social …