Reputation feedback systems assign feedback scores to traders with the aim of separating them according to reliability. There is now a substantial literature on what these mechanisms do well and not so well. Conspicuously absent is a unifying theoretical framework to guide thinking on improving these systems. The authors propose an approach based on prototyping. They construct a prototype market with a seller selection problem. They use the prototype to examine competing approaches to eliciting feedback from traders. Using entropy to benchmark informativeness, they show that the informativeness of feedback elicitation approaches depends on the ability to solve a coordination problem such that traders use a common mapping to turn experiences into ratings. In theory, different approaches can be about equally informative although the map to coordinate on is more ambiguous in some cases. They then test the approaches in the lab. The resulting data finds that the most informative feedback is associated with the elicitation methods where the solution to the coordination problem is least ambiguous.
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The seminar presentations are scheduled to last 60 minutes: 45 minutes of presentation and 15 minutes for both comments and questions.
We will experiment with various methods for questions: A moderator collects questions during the presentation. Speakers will be encouraged to pause every few slides to allow a gap for questions. The moderator will relay clarification questions or unmute selectively during the talk. Remaining questions will be collected and asked in the discussion period.
Just like with other initiated virtual seminars, these rules are subject to change as we gain experience with how to handle the seminar most efficiently.
The Virtual Market Design Seminar is an open online alternative to seminars cancelled due to the COVID-19. Seminars will cover all fields from market design. The seminar presentations are scheduled to last 60 minutes, after 45 minutes of presentation, 15 minutes are for both comments and question.