A Model of reputation with self-revelation choice
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2020-03-25
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Maestri, Lucas Jóver
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This paper seeks to show how firms act in an environment where certification is available and shocks that reveal its quality can occur at any moment. We study the optimal timing of certification and the optimal price (in the certification firm’s point of view). We also study the best equilibrium when the likelihood of these shocks is hidden information and when there are operating costs.