We thank Xavier Gines, Michael Waldman, and seminar participants at the NEUDC
Conference 2002 at Williams College for comments and suggestions.
Earlier versions of the article were presented at the meetings of the Western Economic Association in San Diego, NEUDC
, the University of Alberta, and George Washington University.
Thanks also go to participants at NEUDC
2001 for useful comments on an earlier version of this article, titled "Credibility.