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Word-of-Mouth Communication and Community Enforcement

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  • Ahn, Illtae
  • Suominen, Matti
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    Abstract

    We study a repeated game where a seller, who has a short-term incentive to supply low quality, is periodically matched with a randomly selected buyer. Buyers observe only the outcomes of their neighbors' games and may receive signals from them. When the buyer population is large, the seller may sell high quality even when each buyer observes her action in any given period with an arbitrarily small probability. When networking among buyers is costly, low quality is always supplied with a positive probability. For this case, we characterize an equilibrium where the seller randomizes between high and low quality.

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    Bibliographic Info

    Article provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.

    Volume (Year): 42 (2001)
    Issue (Month): 2 (May)
    Pages: 399-415

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    Handle: RePEc:ier:iecrev:v:42:y:2001:i:2:p:399-415

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    Cited by:
    1. Felipe Balmaceda & Juan Escobar, 2013. "Trust in Cohesive Communities," Working Papers 40, Facultad de Economía y Empresa, Universidad Diego Portales.
    2. Luca Anderlini & Dino Gerardi & Roger Lagunoff, 2007. "Social Memory and Evidence from the Past," Working Papers gueconwpa~07-07-01, Georgetown University, Department of Economics.

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