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Optimal quality certification

Research output: Working paperDiscussion paper

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Abstract

Quality certification not only informs consumers, but also stimulates producers to supply better quality products. We study a problem of quality certification in a moral hazard setting. We show that, under standard assumptions, simple certification systems, such as quality assurance rule and pass-fail rule, are optimal. Our solution method involves interpreting the certification problem as a delegation problem.
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Original languageEnglish
Place of PublicationSt Andrews
PublisherUniversity of St Andrews
Number of pages16
Publication statusPublished - 21 Oct 2019

Publication series

NameSchool of Economics and Finance Discussion Paper
PublisherUniversity of St Andrews
No.1904
ISSN (Print)0962-4031
ISSN (Electronic)2055-303X

    Research areas

  • Certification, Bayesian persuasion, Information disclosure, Information design, Delegation, Moral hazard, Career concerns

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