Reputation und Kooperation

The institutionalized system of rating sellers in internet-auctions is a powerful tool to promote cooperation. This system encourages rational actors to “invest in reputation” and, consequently, to behave cooperatively. We analyze the strategic behaviour of sellers and buyers and, particularly, we investigate with empirical data whether there is a “premium on reputation”. Ulrich Brinkmann and Matthias Meifert critically comment on our article. In this rejoinder we discuss their objections and particularly the measurement of reputation. Also, we explore the question of the relevance of an institutionalized system of reputation. Is an exogeneous sanctioning mechanism a necessary prerequisite to generate a stable amount of cooperation as Brinkmann and Meifert argue or does the institution of a reputation system suffice? To answer this question further experimental or simulation studies are required.