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Selection and Reputation Operation Mode of Network Market -- Adverse Selection and Operation Mode of Network Quality …-commerce markets, and suggests trust management solutions to eliminate or decrease the cyber ‘lemons’. Through this book, it helps … readers understand the ideas and effective methods of trust management in the Chinse e-commerce market, while deepening the …
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We extend Akerlof (1970)'s 'Market for Lemons' by assuming that some buyers are overconfident. Buyers in our model receive a noisy signal about the quality of the good that is on display for sale. Overconfident buyers do not update according to Bayes' rule but take the noisy signal at face...
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We study the role of information about the multiplier in a finitely repeated investment game. A high multiplier increases the reputational incentives of a trustee, leading to more repayments. Our perfect Bayesian equilibrium analysis shows that if the trustee is privately informed about the...
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Qualitätsungewißheit erfaßt das Problem asymmetrischer Information bei Vertrauenseigenschaften und geht über Qualitätsunsicherheit hinaus, die nur bei Erfahrungseigenschaften auftritt. Informationsökonomische Modelle können Qualitätsungewißheit bisher nur unzureichend analysieren. Zur...
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