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Learning Trust

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Author Info
Iris Bohnet (Harvard University,)
Heike Harmgart (University College London and IFS,)
Steffen Huck (University College London,)
Jean-Robert Tyran (University of Copenhagen,)

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Abstract

We examine the effects of different forms of feedback information on the performance of markets that suffer from moral hazard problems due to sequential exchange. As orthodox theory would predict, we find that providing buyers with information about sellers' trading history boosts market performance. More surprisingly, this beneficial effect of incentives for reputation building is considerably enhanced if sellers, too, can observe other sellers' trading history. This suggests that two-sided market transparency is an important ingredient for the design of well-functioning markets that are prone to moral hazard. (JEL: C72, C91, L14) Copyright (c) 2005 The European Economic Association.

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File URL: http://www.mitpressjournals.org/doi/pdfplus/10.1162/jeea.2005.3.2-3.322
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Publisher Info
Article provided by MIT Press in its journal Journal of the European Economic Association.

Volume (Year): 3 (2005)
Issue (Month): 2-3 (04/05)
Pages: 322-329
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Handle: RePEc:tpr:jeurec:v:3:y:2005:i:2-3:p:322-329

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  1. John Ermisch & Diego Gambetta, 2006. "People’s Trust: The Design of a Survey-based Experiment," IZA Discussion Papers 2216, Institute for the Study of Labor (IZA). [Downloadable!]
  2. Johansson-Stenman, Olof & Mahmud, Minhaj & Martinsson, Peter, 2005. "Trust, Trust Games and Stated Trust: Evidence from Rural Bangladesh," Working Papers in Economics 166, Göteborg University, Department of Economics. [Downloadable!]
    Other versions:
  3. Steffen Huck & Gabriele K. Lünser, 2007. "Group Reputations - An Experimental Foray," Ifo Working Paper Series Ifo Working Paper No. 51, Ifo Institute for Economic Research at the University of Munich. [Downloadable!]
  4. Steffen Huck & Gabriele K. Ruchala & Jean-Robert Tyran, 2006. "Competition Fosters Trust," Discussion Papers 06-22, University of Copenhagen. Department of Economics. [Downloadable!]
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  5. Johansson-Stenman, Olof & Mahmud, Minhaj & Martinsson, Peter, 2005. "Trust and Religion: Experimental Evidence from Bangladesh," Working Papers in Economics 167, Göteborg University, Department of Economics. [Downloadable!]
    Other versions:
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  7. Steffen Huck & Gabriele K. Ruchala & Jean-Robert Tyran, 2007. "Pricing and Trust," Discussion Papers 07-04, University of Copenhagen. Department of Economics. [Downloadable!]
    Other versions:
  8. Huck, Steffen & Lünser, Gabriele & Tyran, Jean-Robert, 2008. "Consumer Networks and Firm Reputation: A First Experimental Investigation," CEPR Discussion Papers 6624, C.E.P.R. Discussion Papers. [Downloadable!] (restricted)
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