Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/282083 
Year of Publication: 
2023
Series/Report no.: 
Discussion Paper No. 391
Publisher: 
Ludwig-Maximilians-Universität München und Humboldt-Universität zu Berlin, Collaborative Research Center Transregio 190 - Rationality and Competition, München und Berlin
Abstract: 
Restrictions on certifiers' fee structures are irrelevant for maximizing their profits and trade efficiency, and for the implementability of (monotone) distributions of rents. The irrelevance results exploit that certification schemes involve two substitutable dimensions – the fee structure and the disclosure rule – and adaptations in the disclosure dimension can mitigate restrictions on the fee dimension. While restrictions on fee structures do affect market transparency, it has no impact on economic efficiency or rent distributions.
Subjects: 
certification
fee structures
disclosure rules
transparency
JEL: 
D82
Document Type: 
Working Paper

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