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Asymmetric Information, Adverse Selection and Online Disclosure: The Case of eBay Motors

Lewis, Gregory

The American economic review, 2011-06, Vol.101 (4), p.1535-1546 [Periódico revisado por pares]

Nashville: American Economic Association

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Título:
Asymmetric Information, Adverse Selection and Online Disclosure: The Case of eBay Motors
Autor: Lewis, Gregory
Assuntos: Adverse selection ; Asymmetric information ; Auctions ; Automobile dealers ; Automobile sales ; Automobiles ; Book value ; Computer software ; Datasets ; Disclosure ; e-Bay ; Economic theory ; Electronic commerce ; Information asymmetry ; Internet ; Market theory ; Motors ; Negative feedback ; Opportunity costs ; Price formation ; Prices ; Purchasing ; Shorter Papers ; Software ; Studies ; Used automobiles ; Vehicles ; Web pages
É parte de: The American economic review, 2011-06, Vol.101 (4), p.1535-1546
Notas: ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
Descrição: Since Akerlof (1970), economists have understood the adverse selection problem that information asymmetries can create in used goods markets. The remarkable growth in online used goods auctions thus poses a puzzle. Part of the solution is that sellers voluntarily disclose their private information on the auction web page. This defines a precise contract - to deliver the car shown for the closing price - which helps protect the buyer from adverse selection. I test this theory using data from eBay Motors, finding that online disclosures are important price determinants, and that disclosure costs impact both the level of disclosure and prices. (JEL D44, D82, L81) [PUBLICATION ABSTRACT]
Editor: Nashville: American Economic Association
Idioma: Inglês

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Asymmetric Information, Adverse Selection and Online Disclosure: The Case of eBay Motors

Lewis, Gregory

Nashville: American Economic Association

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