Incorporating Trust into Combinatorial Auctions: What Does Trust Cost?
WI-IAT '09 Proceedings of the 2009 IEEE/WIC/ACM International Joint Conference on Web Intelligence and Intelligent Agent Technology - Volume 03
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Information asymmetry and the buyer's information deficit reduces buyers' willingness to pay, and in extreme cases can lead to market collapse. buySAFE's certification of sellers and bonding their transactions for amounts up to $25,000 improve buyers' information endowment, increase willingness to pay, and increase sellers' margins and total revenues. The company is moving beyond its initial positioning on eBay to become a more general guarantor of online transactions.