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Standards, Innovation, and Latecomer Economic Development – A Conceptual Framework
Ernst, Dieter - 2016
industrial manufacturing and innovation. Standardization is regarded primarily as a technical issue, and hence receives only …-functioning standardization system and strategy can work as a catalyst for translating new ideas, inventions and discoveries into productivity … of latecomer standardization tasks, capabilities and strategies is used to demonstrate that the costs of developing and …
Persistent link: https://www.econbiz.de/10013006758
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Separating equilibria with imperfect certification
Strausz, Roland - 2010
Viscusi (1978) shows how, in markets with quality uncertainty, perfect certification results in separation from top down due to an unraveling process similar to Akerlof (1970). De and Nabar (1991) argue that imperfect certification prevents unraveling so that equilibria with full separation do...
Persistent link: https://www.econbiz.de/10003985597
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The credibility of certifiers
Stolper, Anno - 2011 - This version: December 2011
It is often argued that certifiers have an incentive to offer inflated certificates, although they deny it. In this paper, we study a model in which a certifier is paid by sellers, and may offer them inflated certificates, but incurs costs if doing so. We find that the certifier may face a...
Persistent link: https://www.econbiz.de/10009411261
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Halal certification for financial products : a transaction cost perspective
Hayat, Raphie; Butter, Frank A. G. den; Kock, Udo - 2011
Persistent link: https://www.econbiz.de/10009720706
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Honest certification and the threat of capture
Strausz, Roland - 2004
This paper derives conditions under which reputation enables certifiers to resist capture. These conditions alone have strong implications for the industrial organization of certification markets: 1) Honest certification requires high prices that may even exceed the static monopoly price. 2)...
Persistent link: https://www.econbiz.de/10010343969
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Halal Certification for Financial Products : A Transaction Cost Perspective
Hayat, Raphie - 2011
Halal certification of financials product may reduce transaction costs for its buyers when it provides a trusted standard for investors that seek to comply with Islamic law. However, we show that in practice it takes considerable amounts of time (20 days) and money (USD 122,000) to obtain a...
Persistent link: https://www.econbiz.de/10013117973
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How to Price Imperfect Certification
Mysliveček, Jan - 2009
This paper analyzes markets in which consumers do not directly observe the quality of the products but form their expectations about the quality based on the outcome of voluntary imperfect certification. I analyze how the certification fee impacts the decisions of the producers to apply for a...
Persistent link: https://www.econbiz.de/10013155815
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Imperfect Certification
Gu, Yiquan - 2008
This paper proposes a model for a certification market with an imperfect testing technology. Such a technology only assures that whenever two products are tested the higher quality product is more likely to pass than the lower quality one. When only one certifier with such testing technology is...
Persistent link: https://www.econbiz.de/10012722369
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Price Commitments in Standard Setting Under Asymmetric Information
Boone, Jan - 2019
Many observers have voiced concerns that standards create essentiality and thus monopoly power for the holders of standard essential patents (SEPs). To address these concerns, Lerner and Tirole (2015) advocate structured price commitments, whereby SEP holders commit to the maximum royalty they...
Persistent link: https://www.econbiz.de/10012890251
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Dynamic Certification and Reputation for Quality
Marinovic, Ivan - 2017
We study a firm's incentives to build and maintain reputation for quality, when quality is persistent and can be certified at a cost. We characterize all Markov-perfect equilibria where the firm's choices -i.e., timing of certification and investment– depend only on the firm's reputation. MPE...
Persistent link: https://www.econbiz.de/10012968136