Publications of the Project: Market Power in Vertically Related Markets 

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Imprecise Information Disclosure and Truthful Certification

This article studies the interaction of information disclosure and reputational concerns in certification markets. We argue that by revealing information less precisely, a certifier reduces the threat of capture because this reduces her gains from selling fraudulent certificates. As a result, only imprecise disclosure rules are implementable for intermediate discount factors. Our results therefore

In: European Economic Review 89 (2016), S. 345-360 | Martin Pollrich, Lilo Wagner
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