{"id":"https://openalex.org/W1603429587","doi":null,"title":"Efficiency and Robustness of Binary Feedback Mechanisms in Trading Environments with Moral Hazard","display_name":"Efficiency and Robustness of Binary Feedback Mechanisms in Trading Environments with Moral Hazard","publication_year":2003,"publication_date":"2003-04-14","ids":{"openalex":"https://openalex.org/W1603429587","mag":"1603429587"},"language":"en","primary_location":{"id":"mag:1603429587","doi":null,"is_oa":false,"landing_page_url":"http://digital.mit.edu/research/papers/170_Dellarocas_Moral_Hazard.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},"volume":null,"type":"preprint","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5009541432","display_name":"Chrysanthos N. Dellarocas","orcid":"https://orcid.org/0000-0001-6105-0130","observed_orcids":["https://orcid.org/0000-0001-6105-0130"]},"institutions":[{"id":"https://openalex.org/I63966007","display_name":"Massachusetts Institute of Technology","ror":"https://ror.org/042nb2s44","country_code":"US","type":"education","lineage":["https://openalex.org/I63966007"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Chrysanthos Dellarocas","raw_affiliation_strings":["Massachusetts Institute of Technology"],"raw_orcid":"https://orcid.org/0000-0001-6105-0130","affiliations":[{"raw_affiliation_string":"Massachusetts Institute of Technology","institution_ids":["https://openalex.org/I63966007"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5009541432"],"corresponding_institution_ids":["https://openalex.org/I63966007"],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":false,"cited_by_count":41,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9965999722480774,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11031","display_name":"Game Theory and Applications","score":0.002300000051036477,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11762","display_name":"Law, Economics, and Judicial Systems","score":0.00019999999494757503,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/online-auctions","display_name":"online auctions","score":0.4480000138282776},{"id":"https://openalex.org/keywords/moral-hazard","display_name":"moral hazard","score":0.7820000052452087},{"id":"https://openalex.org/keywords/imperfect-monitoring","display_name":"imperfect monitoring","score":0.5649999976158142},{"id":"https://openalex.org/keywords/rating-systems","display_name":"rating systems","score":0.4830000102519989},{"id":"https://openalex.org/keywords/mechanism-design","display_name":"mechanism design","score":0.6439999938011169},{"id":"https://openalex.org/keywords/mechanism-efficiency","display_name":"mechanism efficiency","score":0.45500001311302185},{"id":"https://openalex.org/keywords/ebay","display_name":"eBay","score":0.34200000762939453},{"id":"https://openalex.org/keywords/eba","display_name":"EBA","score":0.5120000243186951}],"concepts":[{"id":"https://openalex.org/C63479239","wikidata":"https://www.wikidata.org/wiki/Q7353546","display_name":"Robustness (evolution)","level":3,"score":0.7492020726203918},{"id":"https://openalex.org/C41458344","wikidata":"https://www.wikidata.org/wiki/Q732577","display_name":"Publication","level":2,"score":0.5926018953323364},{"id":"https://openalex.org/C75949130","wikidata":"https://www.wikidata.org/wiki/Q848010","display_name":"Database transaction","level":2,"score":0.5860368609428406},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5569540858268738},{"id":"https://openalex.org/C2780310539","wikidata":"https://www.wikidata.org/wiki/Q12547192","display_name":"Imperfect","level":2,"score":0.5452370047569275},{"id":"https://openalex.org/C48372109","wikidata":"https://www.wikidata.org/wiki/Q3913","display_name":"Binary number","level":2,"score":0.5308445692062378},{"id":"https://openalex.org/C98965940","wikidata":"https://www.wikidata.org/wiki/Q877496","display_name":"Transaction cost","level":2,"score":0.4863319993019104},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.48168668150901794},{"id":"https://openalex.org/C2781198186","wikidata":"https://www.wikidata.org/wiki/Q701521","display_name":"Collusion","level":2,"score":0.4776643216609955},{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.4650624394416809},{"id":"https://openalex.org/C93586867","wikidata":"https://www.wikidata.org/wiki/Q62527","display_name":"Negative feedback","level":3,"score":0.42154067754745483},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.41737794876098633},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.33910635113716125},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.2735859751701355},{"id":"https://openalex.org/C112698675","wikidata":"https://www.wikidata.org/wiki/Q37038","display_name":"Advertising","level":1,"score":0.1497586965560913},{"id":"https://openalex.org/C33923547","wikidata":"https://www.wikidata.org/wiki/Q395","display_name":"Mathematics","level":0,"score":0.13657677173614502},{"id":"https://openalex.org/C62520636","wikidata":"https://www.wikidata.org/wiki/Q944","display_name":"Quantum mechanics","level":1,"score":0.0},{"id":"https://openalex.org/C185592680","wikidata":"https://www.wikidata.org/wiki/Q2329","display_name":"Chemistry","level":0,"score":0.0},{"id":"https://openalex.org/C199360897","wikidata":"https://www.wikidata.org/wiki/Q9143","display_name":"Programming language","level":1,"score":0.0},{"id":"https://openalex.org/C41895202","wikidata":"https://www.wikidata.org/wiki/Q8162","display_name":"Linguistics","level":1,"score":0.0},{"id":"https://openalex.org/C94375191","wikidata":"https://www.wikidata.org/wiki/Q11205","display_name":"Arithmetic","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0},{"id":"https://openalex.org/C55493867","wikidata":"https://www.wikidata.org/wiki/Q7094","display_name":"Biochemistry","level":1,"score":0.0},{"id":"https://openalex.org/C104317684","wikidata":"https://www.wikidata.org/wiki/Q7187","display_name":"Gene","level":2,"score":0.0},{"id":"https://openalex.org/C165801399","wikidata":"https://www.wikidata.org/wiki/Q25428","display_name":"Voltage","level":2,"score":0.0},{"id":"https://openalex.org/C121332964","wikidata":"https://www.wikidata.org/wiki/Q413","display_name":"Physics","level":0,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"mag:1603429587","doi":null,"is_oa":false,"landing_page_url":"http://digital.mit.edu/research/papers/170_Dellarocas_Moral_Hazard.pdf","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"RePEc: Research Papers in Economics","raw_type":null},{"id":"pmh:oai:RePEc:mit:sloanp:1852","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/1721.1/1852","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"},{"id":"pmh:oai:dspace.mit.edu:1721.1/1852","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/1721.1/1852","pdf_url":null,"source":{"id":"https://openalex.org/S4306400425","display_name":"DSpace@MIT (Massachusetts Institute of Technology)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I63966007","host_organization_name":"Massachusetts Institute of Technology","host_organization_lineage":["https://openalex.org/I63966007"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"Working Paper"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":false,"grobid_xml":false},"content_urls":null,"referenced_works_count":13,"referenced_works":["https://openalex.org/W1543801066","https://openalex.org/W1772378600","https://openalex.org/W1996957852","https://openalex.org/W2032962485","https://openalex.org/W2066557547","https://openalex.org/W2069630233","https://openalex.org/W2074449447","https://openalex.org/W2090513801","https://openalex.org/W2156442929","https://openalex.org/W2168876164","https://openalex.org/W3121424256","https://openalex.org/W3121755630","https://openalex.org/W3122618161"],"related_works":["https://openalex.org/W1582376574","https://openalex.org/W1998698248","https://openalex.org/W7095769867","https://openalex.org/W2068182109","https://openalex.org/W7066091437","https://openalex.org/W3122467882","https://openalex.org/W2140686876","https://openalex.org/W2122555070","https://openalex.org/W2259093429","https://openalex.org/W1525065004"],"abstract_inverted_index":{"This":[0],"paper":[1,191],"offers":[2],"a":[3,21,73,115,158],"systematic":[4],"exploration":[5],"of":[6,20,38,47,67,77,82,97,109,136,153,168,182,212],"online":[7,87,183],"feedback":[8,48,92,129,161,175,214],"mechanism":[9],"design":[10],"issues":[11],"in":[12,50],"trading":[13],"environments":[14],"with":[15,194],"opportunistic":[16],"sellers,":[17],"imperfect":[18],"monitoring":[19],"seller's":[22,159],"effort":[23,60],"level,":[24],"and":[25,33,105,197],"two":[26],"possible":[27],"transaction":[28,98],"outcomes":[29,99,187],"(corresponding":[30],"to":[31,43,54,57,63,171,179,201],"\"high\"":[32],"\"low\"":[34],"quality":[35,69],"respectively),":[36],"one":[37,84],"which":[39],"has":[40],"no":[41],"value":[42],"buyers.":[44],"The":[45,185],"objective":[46],"mechanisms":[49,78,93,130,170],"such":[51,127,206],"settings":[52],"is":[53],"induce":[55,132],"sellers":[56],"exert":[58],"high":[59,68,133],"and,":[61],"therefore,":[62],"maximize":[64],"the":[65,83,107,118,166,208],"probability":[66],"outcomes.":[70],"I":[71,163],"study":[72],"practically":[74],"significant":[75],"family":[76],"that":[79,126,138],"resembles":[80],"aspects":[81],"used":[85],"by":[86,112,149,156,189],"auction":[88],"house":[89],"eBay.":[90],"These":[91],"solicit":[94],"\"binary\"":[95,128],"ratings":[96,110,154],"as":[100,176,178,207],"either":[101],"positive":[102],"or":[103,155,173],"negative":[104,213],"publish":[106],"sums":[108],"posted":[111],"buyers":[113],"on":[114,215],"seller":[116],"during":[117],"N":[119],"most":[120],"recent":[121],"periods.":[122],"My":[123],"analysis":[124],"finds":[125],"can":[131],"average":[134],"levels":[135],"cooperation":[137],"remain":[139],"stable":[140],"over":[141],"time.":[142],"Surprisingly,":[143],"their":[144],"efficiency":[145],"cannot":[146],"be":[147],"improved":[148],"summarizing":[150],"larger":[151],"numbers":[152],"publishing":[157],"detailed":[160],"history.":[162],"further":[164],"examine":[165],"robustness":[167],"these":[169],"incorrect":[172],"incomplete":[174],"well":[177],"strategic":[180],"changes":[181],"identities.":[184],"theoretical":[186],"predicted":[188],"this":[190],"are":[192],"consistent":[193],"empirical":[195],"observations":[196],"offer":[198],"theory-backed":[199],"explanations":[200],"hitherto":[202],"poorly":[203],"understood":[204],"phenomena":[205],"remarkably":[209],"low":[210],"fraction":[211],"eBa":[216]},"counts_by_year":[{"year":2024,"cited_by_count":1},{"year":2023,"cited_by_count":1},{"year":2016,"cited_by_count":3},{"year":2013,"cited_by_count":1},{"year":2012,"cited_by_count":2}],"updated_date":"2026-11-04T10:54:05.112534","created_date":"2016-06-24T00:00:00"}
