信誉的价值:基于淘宝数据对我国电子市场的特色解释

The Value of Reputation:An Explanation to China's C2C Marketplace Based on Taobao Data

为了解释信誉在我国特色电子市场中的价值,本文基于2008年3月下旬淘宝网上三个电子产品的相关数据,分析卖方的长短期肯定信用度和否定信用度、运费、剩余时间、消费者保障服务及价格等对其销售价格、售出概率、售出数量及售出价格的影响。实证分析发现:信誉度对卖方销售及售出行为存在一定的显著影响;价格对销售等行为没有显著相关作用,而只有价格升水对售出概率存在调节作用;剩余时间会正向影响卖方的销售价格,运费却只对卖方售出概率存在负向影响,而消费者保障尚不能显著影响卖方的销售及售出行为。

In order to focus on sunk cost relevance in financial economics, we relax perfect rationality in neoclassic theory and introduce positive sunk costs under bounded rationality or positive transaction costs. In terms of new institutional finance, we find that sunk costs does matter for decision making, and that sunk costs relevance is so popular beyond the neoclassic financial model, which is characterized by ignoring the past sunk cost or sunk cost irrelevance. Hence we provide the policy and institutional implications for recovering or reducing the past sunk costs, including market and nonmarket institutions and government regulation, creating a sustainable contestable market system.