Publication: Buyers of ‘lemons’: How can a blockchain platform address buyers’ needs in the market for ‘lemons’?
Buyers of ‘lemons’: How can a blockchain platform address buyers’ needs in the market for ‘lemons’?
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Zavolokina, L., Miscione, G., & Schwabe, G. (2020). Buyers of ‘lemons’: How can a blockchain platform address buyers’ needs in the market for ‘lemons’? Electronic Markets, 30, 227–239. https://doi.org/10.1007/s12525-019-00380-9
Abstract
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The second-hand automotive market is one with the least trust from consumers. Customers on the second-hand car market suffer from such problems as the car being in worse condition than initially indicated, accident damage that is not disclosed, fraud, etc. Akerlof, described the market for used cars as an example of the problem of information asymmetries and resulting quality uncertainty. In order to cope with quality uncertainties, used car buyers actively engage themselves in information seeking. Blockchain technology promises to au
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Citations
Zavolokina, L., Miscione, G., & Schwabe, G. (2020). Buyers of ‘lemons’: How can a blockchain platform address buyers’ needs in the market for ‘lemons’? Electronic Markets, 30, 227–239. https://doi.org/10.1007/s12525-019-00380-9
