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Practices

  • Max Blouin

    (Université du Québec à Montréal - CIRPEE and Department of Economics)

  • Jean-Marc Bourgeon

    (Department of Economics, Ecole Polytechnique - CNRS : UMR7176 - Polytechnique - X, Institut National de la Recherche Agronomique - INRA)

We examine an economy where professionals provide services to clients and where a professional can sell his practice to another. Professionals vary in quality, and clients in their need (or willingness-to-pay) for high-quality service. efficiency is measured as the number of matches between high-quality professionals and high-need clients. However, agent types are unobservable a priori. We find that trade in practices can facilitate the transmission of information about agent types; sometimes full efficiency is achieved. In cases where it is not, a tax on the sale of practices (based on the seller's age) can be used to achieve full efficiency. In addition, a ceiling on the price of services can be used to adjust the distribution of surplus between clients and professionals, while preserving efficiency.

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File URL: http://hal.archives-ouvertes.fr/docs/00/36/05/12/PDF/cahier_de_recherche_2008-33.pdf
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Paper provided by HAL in its series Working Papers with number hal-00360512.

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Date of creation: Jun 2008
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Handle: RePEc:hal:wpaper:hal-00360512
Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00360512/en/
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  1. Steven Tadelis, 1999. "What's in a Name? Reputation as a Tradeable Asset," American Economic Review, American Economic Association, vol. 89(3), pages 548-563, June.
  2. Steven Tadelis, 2002. "The Market for Reputations as an Incentive Mechanism," Journal of Political Economy, University of Chicago Press, vol. 110(4), pages 854-882, August.
  3. Hendrik Hakenes & Martin Peitz, 2007. "Observable Reputation Trading," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 48(2), pages 693-730, 05.
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