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Autor:innen: 
Erscheinungsjahr: 
2004
Schriftenreihe/Nr.: 
SFB/TR 15 Discussion Paper No. 25
Verlag: 
Sonderforschungsbereich/Transregio 15 - Governance and the Efficiency of Economic Systems (GESY), München
Zusammenfassung: 
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) Honest certification exhibits economies of scale and constitutes a natural monopoly. 3) Price competition tends to a monopolization. The results derive from a general principle of reputation models that favors concentration. This principle implies benefits from specialization and explains specialized certifiers as efficient market institutions that sell reputation as a service to other firms.
Schlagwörter: 
certification
collusion
bribery
reputation
natural monopoly
JEL: 
L15
D82
L11
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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