The trust model of enterprise purchasing for B2B e-marketplaces

Electronic commerce and online marketplaces have rapidly become critical transaction channels. Many studies of online marketing have focused on the purchasing behaviors of general buyers. However, many business to business (B2B) e-marketplaces allow professional procurement personnel from various businesses to electronically search for and purchase commodities; this facilitates price referencing and helps procurement personnel complete the tasks associated with direct purchasing functionalities. Despite this trend, few studies have examined the purchasing behavior of procurement personnel in B2B e-marketplaces. To fill this research gap, this study examines the relationships between trust in intermediaries and sellers; trust in commodity information; and the online purchase intentions of the procurement personnel in B2B e-marketplaces. This study also investigates the mediating effect of perceived value on the relationship between trust in commodity information and online purchase intention. The results indicate that the relationship between trust in commodity information and online purchase is mediated by perceived value. In addition, both intermediary trust and seller trust positively and significantly influence trust in commodity information, and intermediary trust positively influences seller trust. This finding is a valuable reference for professionals working in B2B e-marketplaces.     

The role of social media in enhancing guanxi and perceived effectiveness of E-commerce institutional mechanisms in online marketplace

This study extends literature on e-commerce trust and repurchase intentions by exploring the role of swift guanxi and the perceived effectiveness of institutional mechanisms (PEEIM) in the context of a Chinese e-marketplace – Taobao. We explore how Taobao’s social media technologies (online reviews and instant messenger) can improve swift guanxi and PEEIM by increasing online interactivity and presence. We find that buyers’ PEEIM negatively moderates trust in online sellers and repurchase intentions. We show that swift guanxi, created by social media’s interactivity and presence, enhances trust, which further increases repurchase intentions. Theoretical and managerial implications and future research directions are discussed.     

Building presence in an online shopping website: the role of website quality

This study explores how sellers’ website quality influences buyers’ perceived presence, which in turn affects website identification and purchase intention. The results of a conceptual model, with data collected from TaoBao, demonstrate that information and service quality are positively related to social presence, and system and service quality are positively related to telepresence. Furthermore, information and service quality increase website identification, but system quality does not. Finally, social presence positively affects website identification and purchase intention, while telepresence only positively affects website identification. These results bridge the research gap about the formation of presence in an online shopping context.     

MoRVAM: A reverse Vickrey auction system for mobile commerce

Internet auctions bring buyers and sellers together for the purpose of trading goods and services online. In order to get the goods, a buyer must search for items through several auction sites. When the auction starts, the buyer needs to connect to these auction sites frequently so that he/she can monitor the bid states and re-bid. In this paper, we propose an automated negotiation model between two participants, for mobile commerce, using collaborative mobile agents called MoRVAM, which mediates between the buyer and the sellers, and executes bidding asynchronously and autonomously. A new RVT protocol is also implemented to achieve unconditional bid privacy. Advantages of the RVT protocol are addressed as well. All the bidding process can be implemented without revealing losing bid and unnecessary information.     

The impact of perceived ease of use on Internet service adoption: The moderating effects of temporal distance and perceived risk

Perceived ease of use is found to affect consumer’s intention toward using an Internet-based service. However, to protect online transaction security, more security verification mechanisms are established which in turn increase the complexity and difficulty of using online services. This study proposed that the importance of perceived ease of use is depending on short- vs. long-term transaction expectation, product type, and whether security concern information is presented. In certain situations buyers or sellers of an Internet service may tolerate the inconvenience of using the Internet-based service. A 2 (verification requirement) × 2 (network externality) × 2 (short vs. long term) between-subject design was conducted on sellers of an auction site and a 2 (verification requirement) × 2 (product type) × 2 (with vs. without security concern information) between-subject design was conducted on buyers of an auction site. The results of two studies suggest that perceived ease of use increases the intention toward using online service when sellers expect that the Internet service usage is only for a short-term transaction or when buyers have no access of the security concern information on the website. In contrast, sellers prefer using an online service which requires a relatively high verification requirement when the purpose of using Internet service is for long-term transaction or when buyers have access of security concern information. The results also showed that perceived network externality positively affect sellers’ intention toward using an auction website.     

Understanding online purchase intentions: contributions from technology and trust perspectives

This paper explores factors that influence consumer's intentions to purchase online at an electronic commerce website. Specifically, we investigate online purchase intention using two different perspectives: a technology-oriented perspective and a trust-oriented perspective. We summarise and review the antecedents of online purchase intention that have been developed within these two perspectives. An empirical study in which the contributions of both perspectives are investigated is reported. We study the perceptions of 228 potential online shoppers regarding trust and technology and their attitudes and intentions to shop online at particular websites. In terms of relative contributions, we found that the trust-antecedent ‘perceived risk’ and the technology-antecedent ‘perceived ease-of-use’ directly influenced the attitude towards purchasing online.     

From virtual community members to C2C e-commerce buyers: Trust in virtual communities and its effect on consumers’ purchase intention

In China, major C2C websites are focusing on increasing their customer bases by converting members of their virtual communities (VCs) into C2C buyers and sellers. This phenomenon is called e-commerce based on social networks (ENS). The current research analyzes what factors affect trust building among VC members and how this trust influences the trust in the C2C website or vendor. We propose and empirically test a model of trust in VCs based on the trust formation mechanism. Using data collected from Taobao Virtual Community, we show that familiarity, perceived similarity, structural assurance, and trust propensity are important antecedents to trust in members in VCs. Analyses of the two kinds of trust show that trust in members’ ability significantly affects three dimensions of trust in the vendor/website in terms of ability, integrity, and benevolence. In addition, trust in members’ integrity and benevolence stimulates the purchase intention and trust in the vendor/website’s ability positively affects the intention to get information and the purchase intention.     

面向资源最优分配的深度学习双边拍卖算法

针对拍卖过程中计算效率低和利益分配不合理等问题, 本文提出了一种基于深度学习的迭代双边拍卖算法. 该算法通过买卖双方的初始报价数据训练基于神经网络的资源最优分配模型, 调用训练好的模型对实时报价数据快速响应, 直接求解经纪人最优分配问题(BAP)以实现计算资源分配, 显著地减小了计算代价, 提高了算法的计算效率. 进一步, 针对利益分配不合理等问题, 在迭代双边拍卖框架的支出规则和收入规则中引入调节因子用于调节买卖双方的利益, 解决已有算法在实现社会福利最大化过程中利益分配不合理的问题. 实验结果验证了该算法的有效性和优越性, 在运行时间、社会福利、买家利益、卖家利益和经纪人利益等多项指标均明显优于已有的迭代双边拍卖算法     

Re-examining the influence of trust on online repeat purchase intention: The moderating role of habit and its antecedents

Customer loyalty or repeat purchasing is critical for the survival and success of any store. By focusing on online stores, this study investigates the moderating role of habit on the relationship between trust and repeat purchase intention. Prior research on online behavior continuance models perceives usefulness, trust, satisfaction, and perceived value as the major determinants of continued usage or loyalty, overlooking the important role of habit. We define habit in the context of online shopping as the extent to which buyers tend to shop online automatically without thinking. Building on recent research on the continued usage of IS and repeat purchasing, we develop a model suggesting that habit acts as a moderator between trust and repeat purchase intention, while familiarity, value and satisfaction are the three antecedents of habit. Data collected from 454 customers of the Yahoo!Kimo shopping mall provide strong support for the research model. The results indicate that a higher level of habit reduces the effect of trust on repeat purchase intention. The data also show that value, satisfaction, and familiarity are important to habit formation and thus relevant within the context of online repeat purchasing. The implications for theory and practice and suggestions for future research are also discussed.     

Repeated use of online auctions: investigating individual seller motivations

Online auctions, connecting sellers and buyers on the Internet, are a specific type of eMarketplaces. eMarketplaces rely on repeat business in order to build scale, yet little is known about the drivers of repeated use by sellers. Based on an empirical investigation of individual, private sellers, this paper identifies the determinants of their repeated use of online auctions. It demonstrates that repeated use is driven by expectancy concerning performance and effort and by the facilitating conditions provided by auction sites. However, repeated use of online auctions is neither directly motivated by social influences, nor is it moderated by sellers’ demographics.     

Should we collude? Analyzing the benefits of bidder cooperation in online group-buying auctions

Cooperation among bidders in traditional auctions is typically forbidden. This is because it is viewed as being harmful to the interests of sellers, who hope to obtain fair prices for their sale items. It also may be harmful to other bidders who are not able to take advantage of any cooperation that is occurring. In online group-buying auctions, in contrast to traditional auctions, cooperation results in higher welfare, leading to market expansion that benefits buyers and sellers, as well as the auction intermediary. This has not been well understood in prior research, however. In this article, we show how the online group-buying auction mechanism on the Internet can be effectively enhanced to produce higher welfare for the participants. The key to achieving this, we find, is for the auction intermediary to provide a means for bidders to cooperate, so as to collectively express greater demand. Such cooperation, it turns out, permits the group-buying auction mechanism to dominate the fixed-price mechanism from the seller’s point of view under some circumstances. Through an analytical modeling analysis, we offer insights into how sellers can set their group-buying auction price curves more effectively, so as to take advantage of bidder cooperation to improve auction performance. We further argue that the goal of the auction intermediary should be to offer an information sharing mechanism to facilitate bidding ring formation, as a means to maximize the value of this market mechanism.     

The relationship between website quality,trust and price premiums at online auctions

This study measures the value of website quality in terms of its impact on trust, intention to transact and price premiums. Prior research on online auctions has focused on the use of reputation systems for building trust in online auction vendors and subsequently to generate price premiums. This study examines the extent to which trust can be induced by improving the quality of online auction listings. A survey of 701 eBay users is conducted which compares the price premiums of two nearly identical online auction businesses, one that has online auction listings with a perceived high quality and the other that has substantially lower perceived quality. Results of this study indicate that website quality can explain 49% of the variation in the trust for eBay sellers. In fact, it shows that sellers with good website quality are all perceived to be equally trustworthy regardless of their eBay reputation; whereas sellers with poor website quality are not perceived to be trustworthy even if they have a high eBay reputation score. The results also show that the trust resulting from increased website quality increases intention to transact and results in price premiums of 12% (on average) for sellers with higher quality listings. Theories from marketing, economics, and social psychology are used to explain why website quality induces trust in unknown vendors without providing any concrete evidence regarding the vendor’s past history.     

How does justice matter in online retailers’ reputation and purchase intentions: an empirical study of China

In recent years, online shopping has been proliferated around the world. Online retailers’ reputation and purchase intentions are critical for survival and profitability of any online store. Thus, this study proposes a research framework to examine the perceived justice effects on customers purchase intention and online retailers’ reputation. A confirmatory factor analysis was conducted to demonstrate the reliability and validity of the measurement model, and the structural equation modelling technique was used to test the research model. The hypothesised model was validated empirically using data collected from 383 online shopping customers in China. The results indicated that perceived procedural, distributive and interactional justice components were strong predictors of customers purchase intention and online retailers’ reputation while online retailers’ reputation had significant effects on purchase intentions. Finally, theoretical and managerial implications are also presented in the paper.     

Understanding customers' repeat purchase intentions in B2C e‐commerce: the roles of utilitarian value,hedonic value and perceived risk

Customer loyalty or repeat purchasing is critical for the survival and success of any store. By focusing on online stores, this study investigates the repeat purchase intention of experienced online buyers based on means‐end chain theory and prospect theory. In the research model, both utilitarian value and hedonic value are hypothesised to affect repeat purchase intention positively. Perceived risk is hypothesised to affect repeat purchase intention negatively and moderate the effects of utilitarian and hedonic values on repeat purchase intention. Utilitarian value is proposed as a formative second‐order construct formed by product offerings, product information, monetary savings and convenience. Hedonic value is also proposed as a formative second‐order construct formed by the six hedonic benefits that have been identified in prior research. Data collected from 782 Yahoo!Kimo customers provide strong support for the research model. The results indicate that both the utilitarian value and hedonic value are positively associated with buyers' repeat purchase intention. A higher level of perceived risk reduces the effect of utilitarian value and increases the effect of hedonic value on repeat purchase intention. Implications for theory and practice and suggestions for future research are provided.     

Market structure and quality uncertainty: a theoretical framework for online auction research

Given large numbers of buyers and sellers, with access to a wide variety of information, economic theory suggests that online auction markets should provide an efficient mechanism for establishing equilibrium prices. Previous research on online auction prices, however, is far from conclusive, having produced mixed findings. The seemingly inconsistent and sometimes contradictory results make it very difficult to integrate empirical findings into a coherent body of knowledge. The purpose of this paper is to present a framework that can reconcile previous findings and provide direction for future research. Accordingly, we propose a simple theoretical framework with two dimensions—market structure (thick vs. thin) and quality uncertainty (high vs. low). By examining the literature in the context of market structure and quality uncertainty we find that previous studies are not necessarily at odds, but that there is actually a fairly consistent pattern of results.     

基于群组的C2C电子商务信任模型研究

国内的电子商务平台大多采用eBay信任模型,对买家反馈评分进行简单累加得到卖家信誉值,未区分买家反馈评分的合理性及其参考价值的重要程度。为此,提出一种基于群组的C2C电子商务信任模型,通过计算买家与卖家的熟悉度,确定买家的可信度,综合考虑反馈评分、交易次数、交易价格、交易时间、以往买家的可信度对信誉的影响,构建电子商务信任模型。模拟实验结果证明,相比Sporas模型,该模型能为买家提供更全面、更准确的卖家信誉信息。     

Which is more important in Internet shopping,perceived price or trust?

Price and trust are considered to be two important factors that influence customer purchasing decisions in Internet shopping. This paper examines the relative influence they have on online purchasing decisions for both potential and repeat customers. The knowledge of their relative impacts and changes in their relative roles over customer transaction experience is useful in developing customized sales strategies to target different groups of customers. The results of this study revealed that perceived trust exerted a stronger effect than perceived price on purchase intentions for both potential and repeat customers of an online store. The results also revealed that perceived price exerted a stronger influence on purchase decisions of repeat customers as compared to that of potential customers. Perceived trust exerted a stronger influence on purchase decisions of potential customers as compared to that of repeat customers.     

Implications of a Reserve Price in an Agent-Based Common-Value Auction

Auction sellers can use a reserve price to require a minimum bid before items are sold. Theoretical and experimental research has tested the influence of a reserve price in an independent private values auction, but little focus has been given to the influence of a reserve price in a first-price common-value auction. We establish an agent-based first-price common-value auction to determine the impact of the reserve price with two buyers and with three buyers. An agent-based approach to this problem is both a unique contribution to the literature and appropriate since finding analytical solutions with common-value auctions is difficult. The agent-based model approach also allows us to consider buyers that have non-symmetric bid functions. Furthermore, we introduce a combination of numerical integration techniques with a new particle swarm learning algorithm. The buyers in the model choose their expected-net-revenue-maximizing bid price, and sellers choose their expected-revenue-maximizing reserve price. In the two-buyer and three-buyer auction, a reserve price increases the equilibrium winning bid price, decreases the probability that the item is sold, and increases the seller’s expected revenue. A reserve price in a two-buyer auction increases the winning bid price more than including an additional buyer in the auction with no reserve price. However, due to only receiving a salvage value when the item does not sell in the auction, the seller’s expected revenue is higher in the three-buyer first-price common-value auction without a reserve price than in the two-buyer auction with a reserve price.     

To sell or not to sell: Exploring sellers' trust and risk of chargeback fraud in cross‐border electronic commerce

Over the past few decades, chargeback fraud from buyers has been identified as a major risk faced by online sellers, particularly small‐ and medium‐sized enterprises, in cross‐border electronic commerce. However, most previous studies have focused on trust and perceived risk from the buyers' perspective and in domestic online marketplaces, while neglecting the importance of sellers' trust and perceived risk in the success of online transactions and the significance of cross‐border transactions. To fill this gap in the literature, this study examines both the antecedents and the impacts of sellers' trust in buyers and their perceived risk of chargeback fraud on sellers' intention to trade with buyers in the context of cross‐border e‐commerce. To this end, we develop a conceptual model that identifies a set of institutional mechanisms to enhance sellers' trust and reduce their perceived risk. Hypotheses are tested via a survey of 443 sellers on DHgate.com , one of the major cross‐border e‐commerce websites connecting the small‐ and medium‐sized enterprises of mainland China with overseas buyers. Our research makes concrete contributions to e‐commerce research and generates useful insights for third‐party online transaction platforms and online trade policy makers.     

An options-based solution to the sequential auction problem

The sequential auction problem is commonplace in open, electronic marketplaces such as eBay. This is the problem where a buyer has no dominant strategy in bidding across multiple auctions when the buyer would have a simple, truth-revealing strategy if there was but a single auction event. Our model allows for multiple, distinct goods and market dynamics with buyers and sellers that arrive over time. Sellers each bring a single unit of a good to the market while buyers can have values on bundles of goods. We model each individual auction as a second-price (Vickrey) auction and propose an options-based, proxied solution to provide price and winner-determination coordination across auctions. While still allowing for temporally uncoordinated market participation, this options-based approach solves the sequential auction problem and provides truthful bidding as a weakly dominant strategy for buyers. An empirical study suggests that this coordination can enable a significant efficiency and revenue improvement over the current eBay market design, and highlights the effect on performance of complex buyer valuations (buyers with substitutes and complements valuations) and varying the market liquidity.