Designing Online Marketplaces: Trust and Reputation Mechanisms | Zendy

Michael Luca | Zendy

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Designing Online Marketplaces: Trust and Reputation Mechanisms

Author(s) -

Michael Luca

Publication year - 2017

Publication title -

innovation policy and the economy

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.895

H-Index - 15

eISSN - 1537-2618

pISSN - 1531-3468

DOI - 10.1086/688845

Subject(s) - reputation , database transaction , business , transaction cost , internet privacy , online business , marketing , advertising , commerce , world wide web , computer science , the internet , database , finance , social science , sociology

Online marketplaces have proliferated over the past decade, creating new markets where none existed. By reducing transaction costs, online marketplaces facilitate transactions that otherwise would not have occurred and enable easier entry of small sellers. One central challenge faced by designers of online marketplaces is how to build enough trust to facilitate transactions between strangers. This paper provides an economist’s tool kit for designing online marketplaces, focusing on trust and reputation mechanisms.

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