Price disparities across locations can occur when sellers in one location have difficulty matching with buyers in a different location due to the transaction costs of trading across distance. Spatial arbitrageurs exploit these discrepancies by buying goods from locations where prices are low and reselling them at locations where prices are high. Electronic channels should lower the transaction ...

Motivated by the growth of various networked systems as potential market places, we study market models wherein, owing to the size of the markets, transactions take place between largely unknown agents. In such scenarios, intermediaries or brokers play a significant role in a transaction. We analyze market behavior in large networks wherein all sellers are not known to the buyers and vice-versa...

This paper shows that all perfect Bayesian equilibria of a dynamic matching game with two-sided incomplete information of independent private values variety converge to competitive equilibria. Buyers purchase a bundle of heterogeneous, indivisible goods and sellers own one unit of an indivisible good. Buyer preferences and endowments as well as seller costs are private information. Agents engag...

Nowadays, many researches are being been made for the development of new transaction system in an effort to transform current off-line system into on-line one. However, these researches mainly focuses on ordinary commercial transaction system, i.e. the one that supports fixed price transaction, in which consumers usually ought to buy goods at the price offered by sellers. Accordingly, more stud...

An auction is an inevitable market mechanism to setup prices of goods or services in a competitive and dynamic environment. Anonymity of bidders is required to conceal their business strategies from competitors. However, it is also essential to provide the seller guarantees that a bidder is trustworthy and competent enough to perform certain tasks (e.g transports). This paper proposes an auctio...

Credence goods markets are characterized by asymmetric information between sellers and consumers that may give rise to inefficiencies, such as underand overtreatment or market break-down. We study in a large experiment with 936 participants the determinants for efficiency in credence goods markets. While theory predicts that either liability or verifiability yields efficiency, we find that liab...

Since the pioneering work of Akerlof (1970), economists have been aware of the adverse selection problem that information asymmetries can create in used goods markets. The remarkable growth in online auctions of used goods, where buyers generally purchase sight unseen, therefore poses a puzzle. I argue that given a means for credible information disclosure, sellers will voluntarily disclose the...

As there are a large number of sellers and products on C2C shopping websites, consumers are faced with the problem about how to choose the right goods whereas sellers are confronted with the problem concerning how to set up online shops and provide commodities. Based on signaling theory and research findings about regional economics, we put forward an analysis model between the difficulty in id...

Search engines are an important part of electronic commerce as they are the most common tools used by buyers and sellers alike. Search engine owners can determine the set of products/firms listed, the order of appearance in the search list and other policies that affect the value of the search engine to the buyers and sellers. Correspondingly, the entity that owns the search engine has special ...

Supply chain management is a set of used methods for the efficient integration of suppliers, manufacturers, warehouses, and sellers to response customer requirements to reduce system costs and to distribute products at the right place and right time. This study aims to identify and rank the supply chain damages using the analytic network process as a practical case in a fast moving consumer goo...