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The Reputational Budget and its Uses

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  • L. Picci

Abstract

I introduce the concept of the reputational budget, to consider its possible uses within a Reputation-based Governance (Rebag) framework. The concept is illustrated using an application to the management of public works, where firms help public administrations in building public infrastructure. The reputational budget has several interesting applications. In particular, it provides objective criteria to use reputational information in public procurement, and it may alleviate the moral hazard problem that arises in the life-cycle of bureaucrats.

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  • L. Picci, 2007. "The Reputational Budget and its Uses," Working Papers 587, Dipartimento Scienze Economiche, Universita' di Bologna.
  • Handle: RePEc:bol:bodewp:587
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    1. Kreps, David M. & Milgrom, Paul & Roberts, John & Wilson, Robert, 1982. "Rational cooperation in the finitely repeated prisoners' dilemma," Journal of Economic Theory, Elsevier, vol. 27(2), pages 245-252, August.
    2. Lucio Picci, 2006. "Reputation-Based Governance of Public Works," Rivista di Politica Economica, SIPI Spa, vol. 96(1), pages 161-184, January-F.
    3. Bruno Bassan & Olivier Gossner & Marco Scarsini & Shmuel Zamir, 2003. "Positive value of information in games," International Journal of Game Theory, Springer;Game Theory Society, vol. 32(1), pages 17-31, December.
    4. R. Confalonieri & C. Leoni & L. Picci, 2007. "Rebag-Ware: Reputation-based Governance of Public Works," Working Papers 586, Dipartimento Scienze Economiche, Universita' di Bologna.
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