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1、eBay’sreputationmechanism1Ebay’sTraditionalfeedbacksystemBuyersandsellerscangiveeachotherfeedback.•Afteratrade+,neutral,or-feedbackratingontransactionpartnerplusshortverbalcomment.–90daysdeadline(butnotbinding:‘softclose’).•Feedbackisimmediatelypublished.–Availabletoeverybodyontr
2、ader’seBaypage.•Trader’shistoryissummarizedasafeedbackscore=(#+)minus(#-)or(#+)/((#+plus#-)•Includesfeedbacktraderearnedasbothsellerandbuyer.2FeedbackProfile3FeedbackProfile4FeedbackProfile5FeedbackProfile6Lotsofevidencethatthefeedbacksystemhasaneffect•70%ofallpotentialfeedbackis
3、given.–6.1billionfeedbacksleft,4millionaday•Positiverelationbetweenseller’sfeedbackandprobabilityofsale/price–BajariandHortaçsu(2003,2004),BaandPavlou(2003),CabralandHortaçsu(2006),Dellarocas(2004),DewanandHsu(2001),Eaton(2002),EderingtonandDewally(2003),HouserandWooders(2003),Ka
4、lyanamandMcIntyre(2001),Livingston(2002),LivingstonandEvans(2005),Lucking-Reiley,Bryan,Prasad,andReeves(2006),McDonaldandSlawson(2002),MelnikandAlm(2003),Ockenfels(2003),ResnickandZeckhauser(2002),Resnick,Zeckhauser,Swanson,andLockwood(2006),Bolton,GreinerandOckenfels(2009)•Exper
5、imentsinthelabandthefield–BaandPavlou(2002),Bolton,KatokandOckenfels(2004,2005),Bolton,LoebbeckeandOckenfels(2008),BoltonandOckenfels(2008)7HowmightyouevaluatetheeffectofeBay’sreputationsystem?•Observationalstudies•Labexperiments•Fieldexperiments8Resnick,Paul,Zeckhauser,Richard,S
6、wanson,John,andKateLockwood.TheValueofReputationoneBay:AControlledExperiment.ExperimentalEconomics.Volume9,Issue2,Jun2006,Page79-101.•Conductedafieldexperimentwiththecooperationofahigh-reputationsellerofantiquepostcards(coauthorSwanson).•(ThenextslidesaremodifiedfromPaulResnick…)
7、9Observationalvs.ControlledStudies•Manyobservationalstudiesofreturnstoreputation–Selectnaturallyoccurringlistings–Regressionmodelspredictoutcomes…•#ofbidders,prob.ofsale,price,profit–…basedon•#ofpositive,negativefeedbacks,controls•Controlledfieldexperiment–Bettercontrolofconfound
8、s(highpricesmightbeassociatedwithaspects
