外文翻译 信誉反馈系统对在线C2C拍卖市场的影响.docVIP

Effects of a reputation feedback system on an online consumer-to-consumer auction market Jian Yang a,1, Xiaorui Hu b,2, Han Zhang c,* a Department of Industrial and Manufacturing Engineering, New Jersey Institute of Technology Newark, NJ 07102, United States b John Cook School of Business St. Louis University, St. Louis, MO 63108, United States c College of Management, Georgia Institute of Technology, Atlanta, GA 30332, United States Received 23 February 2006; received in revised form 26 February 2007;accepted 11 March 2007 Abstract This research establishes a dynamic game-theoretic model that interprets the mechanism of reputation feedback systems in online consumer-to-consumer (C2C) auction markets. Based on the model, a numerical study is conducted to reveal the effects of feedback systems on auction markets. The study shows that the existence of feedback systems greatly improves the performance of online C2C auction markets: buyers are more willing to trade and gainmore benefit from the transactions; sellers honest behavior is encouraged, as honest sellers gains are increased and dishonest sellers gains are reduced. It also offers practical insights on the design of a feedback system: rewarding an honestly-behaving seller is less effective on promoting market performance than punishing a cheating seller. Keywords: Gaming; Internet; Auction/bidding; Feedback system 1. Introduction We study, from both theoretical and numerical angles, reputation feedback systems (hence-forward feedback systems) in online consumer-to-consumer (C2C) auction markets. Our purpose is to show that reasonably-designed feedback systems can promote trust and mitigate fraud, and help ensure the healthy development of the online markets. We also intend our numerical study to offer managerial insights on the market impacts of feedback systems design features. While online C2C auction markets have been growing rapidly in recent years, fraud in these markets is also on the rise. The average l