What is a good reputation? Career concerns with heterogeneous audiences
当代理人面对偏好不同的受众时，好名声的含义变得复杂，声誉回报可能不是单调递增的。本文通过产业组织例子和两期职业关注模型，讨论了异质受众对声誉建立的影响。
When an agent faces audiences with heterogeneous preferences, it is non-trivial to determine what a “good” reputation means, and the return to reputation can be a non-monotonic function. We illustrate this through standard IO examples, and discuss some implications for reputation-building in a simple two-period career concerns framework. We conclude by discussing other observations concerning the impact of heterogeneous audiences on reputation-building.