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- W3205543973 abstract "We study reputation for toughness in finitely repeated contests. Players are rational (payoff-maximizing), or (always exerting an exogenous high effort). In the unique symmetric equilibrium, a rational player has strictly positive payoff only if she is monopolizing reputation. In a reputational oligopoly, a fierce war of attrition to become the reputational monopolist may yield overdissipation. In a reputational monopolist, overdissipation never happens and the monopolist mixes between a non-tough effort to cash in on her reputation today and the tough effort to boost her reputation. In our main application, criminal groups build reputation for toughness in illegal markets" @default.
- W3205543973 created "2021-10-25" @default.
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- W3205543973 date "2021-01-01" @default.
- W3205543973 modified "2023-10-16" @default.
- W3205543973 title "Reputation for Toughness" @default.
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- W3205543973 doi "https://doi.org/10.2139/ssrn.3935770" @default.
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