Green markets , eco-certification , and equilibrium fraud

  title={Green markets , eco-certification , and equilibrium fraud},
  author={Stephen F. Hamiltona and David Zilberman},
Consumers voluntarily pay significant price premiums to acquire unobservable environmental attributes in green markets. This paper considers the performance of eco-certification policy under circumstances where consumers cannot discern environmental attributes in goods, but are able to form rational expectations regarding the extent of illicit activities in the green market. The main results are: (i) fraud is less prevalent in green markets when entry barriers limit the number of firms; (ii… CONTINUE READING

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