Regulation,reputation, and environmental risk |
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| Authors: | Prasenjit Banerjee Jason F Shogren |
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| Institution: | 1. Department of Organization and Economics of Institutions, University of Graz, Austria;2. Department of Economics, Statistics and Finance, University of Calabria, Italy;3. School of Social Sciences, University of Manchester, UK |
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| Abstract: | This paper examines how preferences for social reputation affect the design of monetary incentives in an efficient mechanism for environmental risk. Our results are a high reputation firm receives less than optimal transfer; the low reputation firm sacrifices information rent. |
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