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Reputation and regulation

In: Reputation Capital

Author

Listed:
  • Hans Caspar Crone

    (University of Zurich (Ordinarius))

  • Johannes Vetsch

    (Research Assistant to Prof. von der Crone, University of Zurich)

Abstract

Where information asymmetries are inherent in markets, reputation serves as an enforcement mechanism. Regulation takes the task of informing participants of their counterparties’ standing by sending quality signals to support their reputation, thus allowing for efficient trade. Effective regulation creates expectations, which may force regulators to assume responsibility for the quality signals issued. The extent of both financial and reputational risk to which governments are exposed in financial markets requires strong regulation with clear rules for predictable intervention.

Suggested Citation

  • Hans Caspar Crone & Johannes Vetsch, 2009. "Reputation and regulation," Springer Books, in: Joachim Klewes & Robert Wreschniok (ed.), Reputation Capital, pages 179-195, Springer.
    • Handle: RePEc:spr:sprchp:978-3-642-01630-1_12
    DOI: 10.1007/978-3-642-01630-1_12
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    Cited by:

    1. Kim Oosterlinck & Anne-Sophie Radermecker, 2021. "Regulation or Reputation? Evidence from the Art Market," Working Papers CEB 21-006, ULB -- Universite Libre de Bruxelles.

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