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Title: The Market for Evaluations
Author: Chris Avery, Paul Resnick, and Richard Zeckhauser
Journal: The American Economic Review
Volume: 89
Number: 3
Pages: 564--484
Year: 1999
Abstract: Recent developments in computer networks have driven the cost of distributing information virtually to zero, creating extraordinary opportunities for sharing product evaluations. We present pricing and subsidy mechanisms that operate through a computerized market and induce the efficient provision of evaluations. The mechanisms overcome three major challenges: first, evaluations, which are public goods, are likely to be underprovided; second, an inefficient ordering of evaluators may arise; third, the optimal quantity of evaluations depends on what is learned from the initial evaluations.

Cited by 92  -  Google Scholar

@Article{avery99a,
  author =	 {Chris Avery and Paul Resnick and Richard Zeckhauser},
  title =	 {The Market for Evaluations},
  googleid =	 {PeE58nbjdLwJ:scholar.google.com/},
  journal =	 {The American Economic Review},
  volume =	 89,
  number =	 3,
  pages =	 {564--484},
  year =	 1999,
  abstract =	 {Recent developments in computer networks have driven
                  the cost of distributing information virtually to
                  zero, creating extraordinary opportunities for
                  sharing product evaluations. We present pricing and
                  subsidy mechanisms that operate through a
                  computerized market and induce the efficient
                  provision of evaluations. The mechanisms overcome
                  three major challenges: first, evaluations, which
                  are public goods, are likely to be underprovided;
                  second, an inefficient ordering of evaluators may
                  arise; third, the optimal quantity of evaluations
                  depends on what is learned from the initial
                  evaluations. },
  keywords =     {auctions recommender economics},
  url =		 {http://jmvidal.cse.sc.edu/library/avery99a.pdf},
  cluster = 	 {13579728876438413629}
}
Last modified: Wed Mar 9 10:14:41 EST 2011