Trust and Reputation in Internet Auctions

Exchange between anonymous actors in Internet auctions corresponds to a one-shot prisoner's dilemma-like situation. Therefore, in any given auction the risk is high that seller and buyer will cheat and, as a consequence, that the market will collapse. However, mutual cooperation can be attained by the simple and very efficient institution of a public rating system. By this system, sellers have incentives to invest in reputation in order to enhance future chances of business. Using data from about 200 auctions of mobile phones we empirically explore the effects of the reputation system. In general, the analysis of nonobtrusive data from auctions may help to gain a deeper understanding of basic social processes of exchange, reputation, trust, and cooperation, and of the impact of institutions on the efficiency of markets. In this study we report empirical estimates of effects of reputation on characteristics of transactions such as the probability of a successful deal, the mode of payment, and the selling price (highest bid). In particular, we try to answer the question whether sellers receive a "premium" for reputation. Our results show that buyers are willing to pay higher prices for reputation in order to diminish the risk of exploitation. On the other hand, sellers protect themselves from cheating buyers by the choice of an appropriate payment mode. Therefore, despite the risk of mutual opportunistic behavior, simple institutional settings lead to cooperation, relatively rare events of fraud, and efficient markets.

How Much am I Expected to Pay for my Parents‘ Firm? An Institutional Logics Perspective on Family Discounts

Recent evidence suggests that successors do not simply inherit their parents’ firm, but have to pay a certain price. Building on institutional logics literature, we explore successors’ family discount expectations, defined as the rebate expected from parents in comparison to nonfamily buyers when assuming control of the firm. We find that family cohesion increases discount expectations, while successors’ fear of failure and family equity stake in the firm decrease discount expectations. Higher education in business or economics weakens These effects. On average, in our study comprised of 16 countries, successors expect a 57% family discount.

Forestry publication.

No. 53. Survey of forest plantations of Ottawa, Sandusky, and Seneca Counties, Ohio.--no. 54. Survey of forest plantations of Erie and Huron Counties.--no. 55. Survey of forest plantations of Mercer, Allen, Auglaize, and Shelby Counties, Ohio.--no. 56. Survey of forest plantations of Lorain and Medina Counties.--no. 57. Survey of forest plantations of Wayne County, Ohio.-- no. 58. Survey of forest plantations of Wyandot, Hardin, Marion, Logan, Union and Champaign Co.--no. 59. Forest resources of Preble County, Ohio. no. 62. Survey of forest plantations of Crawford and Morrow Counties.--no. 63. Survey of forest plantations of Franklin and Delaware Counties.--no. 64. Survey of forest plantations of Butler, Hamilton, Warren and Clermont Counties.--no. 65. Forest resources of Wayne County, Ohio. no. 68. Forest resources of Lorain County, Ohio.--no. 69. Forest resources of Medina County, Ohio.--no. 71. Ohio forest survey. A manual of procedure.--no. 73. Fires today and poverty tomorrow.--no. 74. Laws of Ohio relating to forest fires.--no. 75. Twenty-year plan for establishing a more adequate system of state forests and forest parks in Ohio.--no. 76. Ohio's forest resources. 1944.--no. 80. Growing conifers from seed.

Textile world.

Special number, 1953, Buyers'guide and reference data issue; 1954-1960, Buyers guide/Fact file; 1965-1970 is incorporated and numbered as the July monthly issue and called Fact file; 1971-1972, Fact file/Buyer's guide; 1973-1978, Buyer's guide/fact file; 1979-2001/02, Buyer's guide; 2002/03- , International buyers' guide.

Motor record.

"Including 'Automobile buyers' reference.'"

Brownfields properties with underground storage tanks : frequently asked questions.

Information for potential buyers of abandoned commercial properties in Illinois that have underground storage tanks.

Guide to deliveries in Illinois hospitals /

Gynecological hospitalizations report will be published later.

Catalogue of the first portion of the very important collection of coins and medals, comprising the Greek and Roman series, which will be sold by auction by Messrs. Christie & Manson, at their great room, on Monday, March the 18th, 1844, and six following days.

[Prices and buyers add in manuscript.]

A book of the passions /

Published in New york, 1852, under title: Remorse, and other tales.

Catalogue des livres de la bibloiothéque de feu m. A.-A. Barbier ... dont la vente se fera le lundi 25 février et jours suivans ... .

Priced, with buyers' names.

The poetical works of S. T. Coleridge /

v. 1. Juvenile poems. Sibylline leaves.--v. 2. The ancient mariner. Christabel. Miscellaneous poems. Remorse. Zapolya.--v.3. The Piccolomini. The death of Wallenstein. Love, hope, and patience in education.

The Treasure Mart

Established in 1960 by Grace L. Bigby and Demaris E.Cash, Ann Arbor's exclusive resale shop. Everything is sold on consignment. Sellers pay a nominal membership fee to dispose their merchandise incognito. Buyers delight in browsing among these "treasures." 529 Detroit St. - Ann Arbor Michigan NO 2-1363. Estate Sales Our Speciality . Mon. thru Sat. 9-5:30 Mon. & Fri. eves. 'til 9

The Treasure Mart

Established in 1960 by Grace L. Bigby and Demaris E.Cash. Ann Arbor's exclusive resale shop. Everything is sold on consignment. Sellers pay a nominal membership fee to dispose their merchandise incognito. Buyers delight in browsing among these "treasures." 529 Detroit St. - Ann Arbor Michigan NO 2-1363. Estate Sales Our Speciality . Mon. thru Sat. 9-5:30 Mon. & Fri. eves. 'til 9

Decisions of the board of appeal under "New England terms for buying and selling American cotton", first six editions including all decisions to September 1, 1921; ed.

Mode of access: Internet.

Catalogue of the famous library of printed books, illuminated manuscripts, autograph letters and engravings /

232 lots.