现代产业经济学系列讲座第253期

时间：2023年11月3日（周五）14:00-15:00

地点：史带楼603室

题目：A Promise Mechanism to Improve Reputation System in Markets: Evidence from An Experimental Study

主讲人：Erte Xiao professor

主持人：李玲芳教授

摘要：

An effective reputation system is essential for establishing and maintaining trust in online markets. We design and test a simple promise mechanism aimed at addressing the common challenge of insufficient feedback provision. Before the transaction, a buyer is given the opportunity to make promises regarding leaving feedback. We compare two distinct methods of soliciting promises: Market Promise-solicitation (MP) and Seller Promise-solicitation (SP). In the MP approach, the market automatically prompts buyers to decide whether they will commit to providing feedback to sellers after the transaction, while in the SP approach, sellers themselves request the promise from buyers. We show that theoretically both methods are equally efficient in terms of improving reporting rate and market efficiency. However, our findings from a controlled laboratory experiment demonstrate that SP outperforms MP by generating higher reporting and purchasing rates, resulting in higher market efficiency. The differences between the two align with the expectation-based motivation theory of promise-keeping.

个人简介：

Erte Xiao is a professor in the Department of economics at Monash University. Before joining Monash University, she was an assistant professor at Carnegie Mellon University and a post-doctoral fellow at the University of Pennsylvania. Erte conducts research to understand the motivational and behavioral consequences of extrinsic incentives and social preferences on decisions. Her work has been published in journals such as PNAS, Journal of Public Economics, Games and Economic Behavior, and Management Science. Her projects have received funding from Australian Research Council, National Science Foundation (USA), National Institutes of Aging (USA) and Russell Sage Foundation (USA). She is currently the Asia-Pacific Vice President of the Economic Science Association. She serves as Associate Editor of the Journal of Economic Behavior and Organization and is on the editorial boards of several journals including Experimental Economics, Journal of Behavioral and Experimental Economics, and The Leadership Quarterly.