Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/46330 
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dc.contributor.authorStahl, Konrad O.en
dc.contributor.authorStrausz, Rolanden
dc.date.accessioned2011-05-24-
dc.date.accessioned2011-06-29T11:15:37Z-
dc.date.available2011-06-29T11:15:37Z-
dc.date.issued2011-
dc.identifier.urihttp://hdl.handle.net/10419/46330-
dc.description.abstractWho does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer - the seller - follows from a nontrivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device, seller-induced certification as a signalling device. Seller-induced certification maximizes the certifier's profit and social welfare. This suggests the general principle that certification is, and should be induced by the better informed party. The results are reflected in a case study from the automotive industry, but apply also to other markets - in particular the financial market.en
dc.language.isoengen
dc.publisher|aCenter for Economic Studies and ifo Institute (CESifo) |cMunichen
dc.relation.ispartofseries|aCESifo Working Paper |x3365en
dc.subject.jelD40en
dc.subject.jelD82en
dc.subject.jelL14en
dc.subject.jelL15en
dc.subject.ddc330en
dc.subject.keywordasymmetric informationen
dc.subject.keywordcertificationen
dc.subject.keywordinformation acquisitionen
dc.subject.keywordinspectionen
dc.subject.keywordlemonsen
dc.subject.keywordmiddlemenen
dc.subject.keywordsignalingen
dc.subject.stwNormungen
dc.subject.stwProduktqualitäten
dc.subject.stwAsymmetrische Informationen
dc.subject.stwKundenen
dc.subject.stwKostenen
dc.subject.stwSignallingen
dc.subject.stwKraftfahrzeugindustrieen
dc.titleWho should pay for certification?-
dc.typeWorking Paperen
dc.identifier.ppn659490609en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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