Does a good reputation have economic value? The answer is clearly ‘yes’. Quite apart from the fact that individuals generally value the respect and admiration of others, a reputation for honesty by two parties to a transaction can save them the cost of engaging the services of a lawyer to design an enforceable contract, not to mention the expense of pursuing legal remedies if the other party breaches the contract. For this very reason, a businessman with an unsavory reputation may be shunned like the plague. Does a reputation for shrewdness in business have value beyond the esteem in which such a person is held? Again, the answer is ‘yes’ since a savvy businessman is an attractive potential partner.