منابع مشابه
Quality, information and certification
This dissertation consists of three chapters that study issues in Corporate Finance and Industrial Organization related to the behavior of markets with asymmetric information. The first two chapters study the economics of credit rating agencies; the third chapter examines a process of social learning about product quality. Chapter 1 models the effect of rating agency competition on the quality ...
متن کاملWelfare Gains from Quality Certification
In low-income countries, malnutrition is often most severe among infants of six to twenty-four months. They need higher-density foods than the family diet, but density is a credence attribute. We hypothesize that the premium now paid for heavily advertised brands reflects demand for quality assurance, which could be provided at lower cost to competing firms through third-party certification. We...
متن کاملOptimal Control Strategies for Robust Certification
We present an optimal control methodology, which we refer to as concentration-ofmeasure optimal control (COMOC), that seeks to minimize a concentration-of-measure upper bound on the probability of failure of a system. The systems under consideration are characterized by a single performance measure that depends on random inputs through a known response function. For these systems, concentration...
متن کاملQuality and Certification of Electronic Health Records
Background: Numerous projects, initiatives, and programs are dedicated to the development of Electronic Health Records (EHR) worldwide. Increasingly more of these plans have recently been brought from a scientific environment to real life applications. In this context, quality is a crucial factor with regard to the acceptance and utility of Electronic Health Records. However, the dissemination ...
متن کاملDynamic Certification and Reputation for Quality
We study a firm investing in quality and building its reputation for quality. Quality can be certified at a cost. We consider two types of equilibria: one in which certification decisions are made based on firm’s reputation and the second in which they are made based on the time since last certification. We show that reputation-based certification has a very limited effect on incentives to inve...
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ژورنال
عنوان ژورنال: American Economic Review: Insights
سال: 2020
ISSN: 2640-205X,2640-2068
DOI: 10.1257/aeri.20190387