We examine the effectiveness of a quality assurance mechanism that relies on a third-party’s reputation. We focus on … expertise to assess product authenticity. An auction house’s reputation can sustain product quality in this market only if … having auctioned thousands of bottles of fake wine. We find that these houses did suffer reputational losses. These losses …

We examine the effectiveness of a quality assurance mechanism that relies on a third-party's reputation. We focus on … expertise to assess product authenticity. An auction house's reputation can sustain product quality in this market only if … reputational effects by studying the market responses to two disclosures of houses having auctioned fake wine. We find that one …

We investigate the relationship between external quality evaluation via experts, firm reputation and product prices and … extend the existing empirical literature in three dimensions. First, we empirically account for endogenous reputation effects …. An increase in quality has an immediate positive impact on product prices but also improves the reputation of a firm …

consumption good. As such, wine buyers should be willing to pay a premium for regional reputation to avoid risk and to send … signals about their wealth and social status. At the same time, wine is an annually produced good; every year new bottles …Wine is an experience good and also (at least under certain circumstances and to a certain extent) a conspicuous …