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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)...
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Business bribery is a particularly serious problem in the integration era. First, this article investigates the effects … of institutional obstacles on firms' bribery in 131 countries classified by nation income groups. Through the appropriate … proposal of fitting functions, the relationship between obstructions and the predicted margin effect of bribery is intuitively …
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