Damiano, Ettore; Li, Hao; Suen, Wing-chuen - In: Theoretical economics : TE ; an open access journal in … 3 (2008) 3, pp. 325-365
(individual rating), the credibility of a good rating in an inflationary equilibrium of the signaling game is limited by the … average level of credibility for its good ratings than in individual rating. In decentralized rating, the ratings are again … degree of rating inflation and hence a greater level of credibility than in individual rating. Comparing centralized rating …
