A seller in an online marketplace with an effective reputation mechanism should expect that dishonest behavior results in higher payments now, while honest behavior results in higher reputation – and thus higher payments – in the future. We study two widely used classes of reputation...

Recent years have seen extensive investigation of the information aggregation properties of markets. However, relatively little is known about conditions under which a market will aggregate the private information of rational risk averse traders who optimize their portfolios over time; in...