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Often information structures are such that while individual reputation building is impossible groups of agents would have the possibility of building up a reputation. We experimentally examine whether groups of sellers in markets that suffer from moral hazard are able to build up reputations...
Persistent link: https://www.econbiz.de/10010312164
anonymous, such markets perform poorly: sellers are not trustworthy, and buyers do not trust sellers. If sellers are …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely. …
Persistent link: https://www.econbiz.de/10005233014
anonymous, such markets perform poorly: sellers are not trustworthy, and buyers do not trust sellers. If sellers are …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely. …
Persistent link: https://www.econbiz.de/10005136615
Arguing that consumers are the carriers of firms’ reputations, we examine the role of consumer networks for trust in …' incentives for reputation building and, thus, enhances trust and efficiency in markets. This efficiency-enhancing effect is …
Persistent link: https://www.econbiz.de/10005749642
We study the effects of reputation and competition in a trust game. If trustees are anonymous, outcomes are poor …: trustees are not trustworthy, and trustors do not trust. If trustees are identifiable and can, hence, build a reputation … minimal information, eliminates the trust problem almost completely. …
Persistent link: https://www.econbiz.de/10011049711
Arguing that consumers are the carriers of firms’ reputations, we examine the role of consumer networks for trust in …' incentives for reputation building and, thus, enhances trust and efficiency in markets. This efficiency-enhancing effect is …
Persistent link: https://www.econbiz.de/10005661429
anonymous, such markets perform poorly: sellers are not trustworthy, and buyers do not trust sellers. If sellers are …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely …
Persistent link: https://www.econbiz.de/10014054391
We conducted six treatments of a standard moral hazard experiment with hidden action. All treatments had identical Nash equilibria. However, the behavior in all treatments and periods was inconsistent with established agency theory (Nash equilibrium). In the early periods of the experiment,...
Persistent link: https://www.econbiz.de/10010481417
We conducted six treatments of a standard moral hazard experiment with hidden action. All treatments had identical Nash equilibria. However, the behavior in all treatments and periods was inconsistent with established agency theory (Nash equilibrium). In the early periods of the experiment,...
Persistent link: https://www.econbiz.de/10010481554
We conducted six treatments of a standard moral hazard experiment with hidden action. All treatments had identical Nash equilibria. However, the behavior in all treatments and periods was inconsistent with established agency theory (Nash equilibrium). In the early periods of the experiment,...
Persistent link: https://www.econbiz.de/10009421311