Higher reputation can make experts recommend risky actions less often, but the paper's key condition is assumed rather than derived, and its single-cutoff characterization is not proven for different ability types.
Conflicts of Interest, Information Provision, and Competition in the Financial Services Industry,
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Paying for Failure in Expert Advice
Higher reputation can make experts recommend risky actions less often, but the paper's key condition is assumed rather than derived, and its single-cutoff characterization is not proven for different ability types.