new evidence regarding the roles of borrower reputation, lead arranger reputation and the bank-borrower relationship …. First, lead arranger reputation can reduce information asymmetry but only for the most reputable lead arrangers. Second …, borrower reputation, measured by the borrower’s past access of the loan market, reduces the problem of information asymmetry …

make a voluntary payment, a bonus, after observing advice quality. While the combination of competition and reputation …. Thus, our results suggest that a voluntary component can act as a substitute for either competition or reputation …

I show how changes in competition affect the power of reputation to induce sellers to exert effort. The impact of …. To guide the empirical analysis, I develop a model of reputation where the relative number of hosts and guests affects … the value of building a reputation through effort. In this framework, more competition depresses hosts' profits and leads …

of privately known competence, who cares about his reputation, chooses the timing of the forecast regarding the outcome …. Further, any report hurts the forecaster’s reputation in the short run, with later reports incurring larger penalties. The … reputation of a silent forecaster, on the other hand, gradually improves over time. …

efficiency, we find that liability has a crucial, but verifiability only a minor effect. Allowing sellers to build up reputation …