Abstract
We study reputations with imperfect audit and a reputation market. The main result shows the existence of a separating equilibrium in the reputation market, which contrasts with Tadelis [Tadelis, S., 2002, The market for reputations as an incentive mechanism, Journal of Political Economy 110(4), 854-882].
| Original language | English |
|---|---|
| Pages (from-to) | 359-362 |
| Number of pages | 4 |
| Journal | Economics Letters |
| Volume | 100 |
| Issue number | 3 |
| DOIs | |
| Publication status | Published - Sept 2008 |
| Externally published | Yes |
Keywords
- Audit
- Infinitely repeated game
- Reputation