Transaction risk management in China-US trade e-markets

Authors:
J. Christopher Westland;Ye Di
Affiliations:
University of Illinois - Chicago, Chicago, IL;Xiamen University, Fujian Province, P. R. China
Venue:
Proceedings of the 14th Annual International Conference on Electronic Commerce
Year:
2012

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Abstract

Trust is the central factor in market reputation, and has a huge impact on customer traffic and willingness to buy.. In a free-market, the desirable course for resolving disputes which would undermine trust is through risk products (insurance) and markets which allow hedging and savings to offset adverse events. At the individual level, these are typically insurance markets. This paper proposes an insurance product and business model to provide an effective solution to disputes over individual transactions in Internet markets.