Download or read book Understanding and Mitigating Product Uncertainty in Online Auction Marketplaces written by Paul A. Pavlou and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Internet interface poses a difficulty for buyers in evaluating products online, particularly physical experience and durable goods, such as used cars. This increases buyers' product uncertainty, defined as the buyer's perceived estimate of the variance in product quality based on subjective probabilities about the product's characteristics and whether the product will perform as expected. However, the literature has largely ignored product uncertainty and mostly focused on mitigating buyer's seller uncertainty. To address this void, this study aims to conceptualize the construct of product uncertainty and propose its antecedents and consequences in online auction marketplaces. First, drawing upon the theory of markets with asymmetric information, we propose product uncertainty to be distinct from, yet affected by, seller uncertainty. Second, based on auction pricing theory, we propose that product uncertainty and seller uncertainty negatively affect two key success outcomes of online marketplaces: price premium and transaction activity. Third, following information signaling theory, we propose a set of product information signals to mitigate product uncertainty: (1) online product descriptions (textual, visual, multimedia); (2) third-party product certifications (inspection, history report, warranty); (3) auction posted prices (reserve, starting, buy-it-now); and (4) intrinsic product characteristics (book value and usage). Finally, we propose that the effect of online product descriptions and intrinsic product characteristics on product uncertainty is moderated by seller uncertainty. The proposed model is supported by a unique dataset comprised of a combination of primary (survey) data drawn from 331 buyers who bid upon a used car on eBay Motors, matched with secondary transaction data from the corresponding online auctions. The results distinguish between product and seller uncertainty, show the stronger role of product uncertainty on price premiums and transaction activity compared to seller uncertainty, empirically identify the most influential product information signals, and support the mediating role of product uncertainty. This paper contributes to and has implications for better understanding the nature and role of product uncertainty, identifying mechanisms for mitigating product uncertainty, and demonstrating complementarities between product and seller information signals. The model's generalizability and implications are discussed.
Download or read book Research Handbook on Information Systems and the Environment written by Vanessa A. Cooper and published by Edward Elgar Publishing. This book was released on 2023-07-01 with total page 391 pages. Available in PDF, EPUB and Kindle. Book excerpt: This comprehensive Research Handbook provides international perspectives on the role of information systems in environmental sustainability, drawing on ground-breaking research from leading scholars to predict future trends. Presenting in-depth studies which utilise a diverse range of research approaches and methods, this insightful Handbook provides a thorough examination of information systems research on environmental sustainability.
Download or read book On Product Uncertainty in Online Markets written by Angelika Dimoka and published by . This book was released on 2014 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: Online markets pose a difficulty for evaluating products, particularly experience goods, such as used cars, that cannot be easily described online. This exacerbates product uncertainty, the buyer's difficulty in evaluating product characteristics and predicting how a product will perform in the future. However, the IS literature has focused on seller uncertainty and ignored product uncertainty. To address this void, this study conceptualizes product uncertainty and examines its effects and antecedents in online markets for used cars (eBay Motors). Extending the information asymmetry literature from the seller to the product, we first theorize the nature and dimensions - description and performance - of product uncertainty. Second, we propose product uncertainty to be distinct from, yet shaped by, seller uncertainty. Third, we conjecture product uncertainty to negatively affect price premiums in online markets beyond seller uncertainty. Fourth, based on the information signaling literature, we describe how information signals - diagnostic product descriptions and third-party product assurances - reduce product uncertainty. The structural model is validated by a unique dataset comprised of secondary transaction data from used cars on eBay Motors matched with primary data from 331 buyers who bid upon these used cars. The results distinguish between product and seller uncertainty, show that product uncertainty has a stronger effect on price premiums than seller uncertainty, and identify the most influential information signals that reduce product uncertainty. The study's implications for the emerging role of product uncertainty in online markets are discussed.
Download or read book Handbook on Crime and Technology written by Don Hummer and published by Edward Elgar Publishing. This book was released on 2023-03-02 with total page 479 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining the consequences of technology-driven lifestyles for both crime commission and victimization, this comprehensive Handbook provides an overview of a broad array of techno-crimes as well as exploring critical issues concerning the criminal justice system’s response to technology-facilitated criminal activity.
Download or read book Uncertainty Microstructure and Bidding Behavior in Internet Auction Marketplaces written by Branimira Stanislavova Slavova and published by . This book was released on 2006 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Information Systems Theory written by Yogesh K. Dwivedi and published by Springer Science & Business Media. This book was released on 2011-09-21 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: The overall mission of this book is to provide a comprehensive understanding and coverage of the various theories and models used in IS research. Specifically, it aims to focus on the following key objectives: To describe the various theories and models applicable to studying IS/IT management issues. To outline and describe, for each of the various theories and models, independent and dependent constructs, reference discipline/originating area, originating author(s), seminal articles, level of analysis (i.e. firm, individual, industry) and links with other theories. To provide a critical review/meta-analysis of IS/IT management articles that have used a particular theory/model. To discuss how a theory can be used to better understand how information systems can be effectively deployed in today’s digital world. This book contributes to our understanding of a number of theories and models. The theoretical contribution of this book is that it analyzes and synthesizes the relevant literature in order to enhance knowledge of IS theories and models from various perspectives. To cater to the information needs of a diverse spectrum of readers, this book is structured into two volumes, with each volume further broken down into two sections. The first section of Volume 1 presents detailed descriptions of a set of theories centered around the IS lifecycle, including the Success Model, Technology Acceptance Model, User Resistance Theories, and four others. The second section of Volume 1 contains strategic and economic theories, including a Resource-Based View, Theory of Slack Resources, Portfolio Theory, Discrepancy Theory Models, and eleven others. The first section of Volume 2 concerns socio-psychological theories. These include Personal Construct Theory, Psychological Ownership, Transactive Memory, Language-Action Approach, and nine others. The second section of Volume 2 deals with methodological theories, including Critical Realism, Grounded Theory, Narrative Inquiry, Work System Method, and four others. Together, these theories provide a rich tapestry of knowledge around the use of theory in IS research. Since most of these theories are from contributing disciplines, they provide a window into the world of external thought leadership.
Download or read book Best Practices for Online Procurement Auctions written by Parente, Diane H. and published by IGI Global. This book was released on 2007-12-31 with total page 402 pages. Available in PDF, EPUB and Kindle. Book excerpt: Offers a systematic approach to the examination of online procurement auctions. Growth in online auctions reinforces the need for understanding the factors important in auctions and the caveats that both researchers and practitioners need to know in order to effectively study and use the auction tool.
Download or read book Fit Does Matter An Empirical Study on Product Fit Uncertainty in Online Marketplaces written by Yili Hong and published by . This book was released on 2014 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines the antecedents and consequences of product uncertainty in online marketplaces by conceptualizing the dimensions of product uncertainty - description uncertainty (identifying product characteristics), performance uncertainty (inferring product's future performance) and fit uncertainty (matching product's characteristics with buyer's needs). It also theorizes the distinction, relationship, and effects of the dimensions of product uncertainty. Finally, it proposes a set of IT-enabled mechanisms to reduce product uncertainty. The hypotheses are tested with data from 274 buyers in the largest online marketplace in China (Taobao). The results first demonstrate the distinction between the dimensions of product uncertainty, show that relative to description and performance uncertainty, fit uncertainty has the only significant effect on price premiums, satisfaction, product returns, and repurchase intentions, and support the effects of computer-mediated communication (between buyers and sellers and among buyers), product forums, and decision support systems on fit uncertainty. Implications for theory and practice are discussed.
Download or read book Product Fit Uncertainty in Online Markets written by Yili Hong and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Product fit uncertainty (defined as the degree to which a consumer cannot assess whether a product's attributes match her preference) is proposed to be a major impediment to online markets with costly product returns and lack of consumer satisfaction. We conceptualize the nature of product fit uncertainty as an information problem and theorize its distinct effect on product returns and consumer satisfaction (versus product quality uncertainty), particularly for experience (versus search) goods without product familiarity. To reduce product fit uncertainty, we propose two Internet-enabled systems - website media (visualization systems) and online product forums (collaborative shopping systems) - that are hypothesized to attenuate the negative effect of product type (experience versus search goods) on product fit uncertainty. Hypotheses that link experience goods to product returns through the mediating role of product fit uncertainty are tested with analyses of a unique dataset composed of secondary data matched with primary direct data from numerous consumers who had recently participated in buy-it-now auctions. The results show the distinction between product fit uncertainty and quality uncertainty as two distinct dimensions of product uncertainty, and interestingly show that, relative to product quality uncertainty, product fit uncertainty has a significantly stronger effect on product returns. Notably, while product quality uncertainty is mainly driven by the experience attributes of a product, product fit uncertainty is mainly driven by both experience attributes and lack of product familiarity. The results also suggest that Internet-enabled systems are differentially used to reduce product (fit and quality) uncertainty. Notably, the use of online product forums is shown to moderate the effect of experience goods on product fit uncertainty, while website media are shown to attenuate the effect of experience goods on product quality uncertainty. The results are robust to econometric specifications and estimation methods. The paper concludes by stressing the importance of reducing the increasingly-prevalent information problem of product fit uncertainty in online markets with the aid of Internet-enabled systems.
Download or read book Learning in Repeated Auctions written by Thomas Nedelec and published by . This book was released on 2022-02-14 with total page 170 pages. Available in PDF, EPUB and Kindle. Book excerpt: Online auctions are one of the most fundamental facets of the modern economy and power an industry generating hundreds of billions of dollars a year in revenue. Online auction theory has historically focused on the question of designing the best way to sell a single item to potential buyers relying on some prior knowledge agents were assumed to have on each other. In new markets, such as online advertising, however, similar items are sold repeatedly, and agents are unaware of each other or might try to manipulate each other, making the assumption invalid. Statistical learning theory now provides tools to supplement those missing pieces of information given enough data, as agents can learn from their environment to improve their strategies. This book is a comprehensive introduction to the learning techniques in repeated auctions. It covers everything from the traditional economic study of optimal one-shot auctions, through learning optimal mechanisms from a dataset of bidders' past values, to showing how strategic agents can actually manipulate repeated auctions to their own advantage. The authors explore the effects of different scenarios and assumptions throughout while remaining grounded in real-world applications. Many of the ideas and algorithms described are used every day to power the Internet economy. This book provides students, researchers and practitioners with a deep understanding of the theory of online auctions and gives practical examples of how to implement in modern-day internet systems.
Download or read book Online Auction Markets with Increasingly More Practical Items written by Ho-mu Lee and published by . This book was released on 2007 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recently "practicals" such as computers and clothes account for a substantial amount of the total volume in online auction marketplaces. However, as bidders for practicals may easily find the same goods elsewhere, it is likely that they bid less aggressively than bidders of rare items such as collectibles. We present a model that incorporates the probability that a bidder will find goods identical to an auctioned item elsewhere. Based on the model and relevant actual auction data, it is argued that when the probability is close either to zero or to one, an increasing number of bidders do not improve revenue as much as when the probability is in a middle range. This paper is concluded with the implications for the viability of small auction-based online marketplaces as well as for a caveat to sellers in using promotional options.
Download or read book Learning in Repeated Auctions written by THOMAS NEDELEC; CLEMENT CALAUZENES; NOUREDDINE EL. and published by . This book was released on 2022 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Online auctions are one of the most fundamental facets of the modern economy and power an industry generating hundreds of billions of dollars a year in revenue. Online auction theory has historically focused on the question of designing the best way to sell a single item to potential buyers relying on some prior knowledge agents were assumed to have on each other. In new markets, such as online advertising, however, similar items are sold repeatedly, and agents are unaware of each other or might try to manipulate each other, making the assumption invalid. Statistical learning theory now provides tools to supplement those missing pieces of information given enough data, as agents can learn from their environment to improve their strategies. This book is a comprehensive introduction to the learning techniques in repeated auctions. It covers everything from the traditional economic study of optimal one-shot auctions, through learning optimal mechanisms from a dataset of bidders0́9 past values, to showing how strategic agents can actually manipulate repeated auctions to their own advantage. The authors explore the effects of different scenarios and assumptions throughout while remaining grounded in real-world applications. Many of the ideas and algorithms described are used every day to power the Internet economy. This book provides students, researchers and practitioners with a deep understanding of the theory of online auctions and gives practical examples of how to implement in modern-day internet systems.
Download or read book Electricity Auctions written by Luiz Maurer and published by World Bank Publications. This book was released on 2011-07-25 with total page 181 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity-contract auctions have been getting increased attention as they have emerged as a successful mechanism to procure new generation capacity and. This book presents a comprehensive overview of international experiences in auction design and implementation.
Download or read book Market Signaling Informational Transfer in Hiring and Related Screening Processes written by A. Michael Spence and published by . This book was released on 1974 with total page 221 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Antitrust Paradox written by Robert Bork and published by . This book was released on 2021-02-22 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: The most important book on antitrust ever written. It shows how antitrust suits adversely affect the consumer by encouraging a costly form of protection for inefficient and uncompetitive small businesses.
Download or read book The Economics of the Internet and E commerce written by Michael R. Baye and published by Elsevier. This book was released on 2002-10-31 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first six chapters of the text examine four broad issues: the role of the Internet in fostering competition, its impact on price dispersion and on business-to-business transactions, and the importance of reputation and trust in the new economy. The last four chapters examine the impact of the Internet on the organization of firms, the efficiency of auctions in the Internet age, how consumers choose websites and acquire product information, and the growing problem of congestion on the Internet.
Download or read book The Federal Reserve System Purposes and Functions written by Board of Governors of the Federal Reserve System and published by . This book was released on 2002 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Provides an in-depth overview of the Federal Reserve System, including information about monetary policy and the economy, the Federal Reserve in the international sphere, supervision and regulation, consumer and community affairs and services offered by Reserve Banks. Contains several appendixes, including a brief explanation of Federal Reserve regulations, a glossary of terms, and a list of additional publications.
