Lemons on the web: a signalling approach to the problem of trust in Internet commerce

Asymmetric information is at the heart of situations involving trust. In the case of B2CInternet commerce, the information asymmetry typically relates to the difficulty that consumershave of distinguishing between ‘‘trustworthy’’ and ‘‘untrustworthy’’ Web merchants. Theimpasse can be resolved by the use of signals by trustworthy Web merchants to differentiatethemselves from untrustworthy ones. Using an experimental design where subjects are exposedto a series of purchase choices, we investigate three possible signals, an unconditional moneybackguarantee, branding, and privacy statement, and test their efficacy. Our empirical resultsconfirm the predictions suggested by signalling theory.

“Big data” is creating a surveillance economy

While governments are capturing as much data as they can about us for security reasons, private companies are doing the same in a practice that has become known as “Big Data”. Martin Hirst (p.19) explains how the data we generate is leading to a “surveillance economy” in which businesses build data profiles that enable them to target their advertising at people more effectively, while Benjamin Shiller (p.22) explains how your online purchasing decisions will enable merchants to alter their prices to extract the maximum value from individual customers.

Materials machining study of titanium alloy using a high speed camera

The research aim is to study and analyze the shear zone by application of merchant circle during machining of titanium alloy (Ti6Al4V). The thermo-mechanical reaction during machining plays an important role in defining machinability of titanium alloys. The scientific community is concerned about machining of titanium alloy due to problems occurring in the shear zone that affect tool life. Studying the cutting action contributes to understanding and addressing these problems effectively. For this purpose, an experimental setup, utilizing a high speed camera will be used to study the shear zone. The shear zone characteristics are studied by analyzing the images captured by a high speed camera placed near to the shear zone during machining. The experimental design consists of conducting a series of turning trials using combination of cutting parameters namely constant spindle speed (n) 770 rpm; feed rate (f) of 2 and 4 mm/rev; and depth of cut (d) of 1 and 2 mm. The length of cut (L) of 10 mm remains constant and no coolant is used for all trials. The images obtained from the camera are analyzed against the theory of orthogonal cutting using merchants circle.