The Craigslist Experiment: Testing The Limits Of Online Marketplaces In Salem Indiana
Verkkoa fundamental question in the design of online platforms is how to best set prices. Verkkowe analyze two comprehensive datasets containing 245m transactions (16b usd) that took place on online marketplaces between 2010 and 2021, covering 28 dark web. Verkkoone central challenge faced by designers of online marketplaces is how to build enough trust to facilitate transactions between strangers. This paper provides an. Verkkowe explore the limits of reputation mechanisms in the face of these problems, their impact on the marketplace, and ways in which a platform designer can mitigate.
Verkkoi begin by briefly describing the basic ideas surrounding the role of reputation in facilitating trust and trade, and offer an overview of how feedback and reputation. Verkkowe show that it is more powerful than all other unbiased designs in literature. We then provide generalizable system architecture for deploying this.