credibility

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credibility

  1. 1the extent to which individuals and firms believe that the government will carry out the macro-economic policies that it promises to pursue. Credibility is important in influencing the EXPECTATIONS that individuals and firms have about future economic policies, and these expectations in turn affect their current behaviour.
  2. the extent to which potential market entrants believe that incumbent firms will react to their entry, for example, by cutting their prices. The credibility of such threats by incumbent firms will determine whether potential entrants decide to enter a market.
See BARRIERS TO ENTRY, LIMIT PRICING, POTENTIAL ENTRANT.
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References in classic literature ?
But his pocketbook (seen by witnesses who had not yet been examined) was missing.
Ginevra herself was dressed simply, as befitted her present fortunes; and yet her beauty was so noble and so imposing that the words of greeting died away on the lips of the witnesses, who supposed themselves obliged to pay her some usual compliments.
The church and the mayor's office being near by, Luigi and Ginevra, followed by the four witnesses required by law, walked the distance, with a simplicity that deprived of all pomp this greatest event in social life.
Every detail of the damaging circumstances that occurred in the graveyard upon that morning which all present remembered so well was brought out by credible witnesses, but none of them were cross- examined by Potter's lawyer.
Then come the witnesses to character, and here Mr Brass's gentleman shines again.
Several witnesses swore they heard Judge Driscoll say in his public speech that the twins would be able to find their lost knife again when they needed it to assassinate somebody with.
As it was late, he would ask leave to defer the examination of his three witnesses until the next morning.
When these details had been supplied, though not explained, the first of the important witnesses was called.
Sir Wilson was leaving the witness-box, after a few final particulars to which there were many other witnesses, when the counsel for the defence sprang up and stopped him.
Yes, my boy, yes--it's taken all the time since I first went; but they're slow, they're slow; and there's the counsel they've got for her puts a spoke in the wheel whenever he can, and makes a deal to do with cross-examining the witnesses and quarrelling with the other lawyers.
When certain witnesses appeared against him, he looked at them with a momentary attention.
He has started some nonsensical objection to his wife being one of the witnesses, and has obliged me to ask you to join us in the library.