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Collective Reputation, Professional Regulation and Franchising

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Abstract

Collective reputation and its associated free-rider problem have been invoked to justify state licensing of professions and to explain the incidence of franchising. We examine the conditions under which it is possible to create a Pareto-improving collective reputation among groups of heterogeneous producers. If the regulator or franchisor cannot credibly commit to high quality then a common reputation can be created only if the groups are not too different and if marginal cost is declining. High cost groups benefit most from forming a common regime.

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File URL: http://cowles.econ.yale.edu/P/cd/d16a/d1627.pdf
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Bibliographic Info

Paper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 1627.

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Length: 37 pages
Date of creation: Sep 2007
Date of revision:
Handle: RePEc:cwl:cwldpp:1627

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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
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Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA

Related research

Keywords: Quality regulation; Licensing; Collective reputation; Reputational externality; Franchising;

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Cited by:
  1. Castriota, Stefano & Delmastro, Marco, 2008. "Individual and Collective Reputation: Lessons from the Wine Market," Working Papers 45504, American Association of Wine Economists.
  2. Fishman, Arthur & Finkelshtain, Israel & Simhon, Avi & Yacouel, Nira, 2008. "The Economics of Collective Brands," Discussion Papers 46056, Hebrew University of Jerusalem, Department of Agricultural Economics and Management.
  3. Arthur Fishman & Israel Finkelstein & Avi Simhon & Nira Yacouel, 2010. "The Economics of Collective Brands," Working Papers 2010-11, Department of Economics, Bar-Ilan University.
  4. Alexander E. Saak, 2012. "Collective Reputation, Social Norms, and Participation," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 94(3), pages 763-785.

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