Coevolution of Trustful Buyers and Cooperative Sellers in the Trust Game

@article{Masuda2012CoevolutionOT,
  title={Coevolution of Trustful Buyers and Cooperative Sellers in the Trust Game},
  author={Naoki Masuda and Mitsuhiro Nakamura},
  journal={PLoS ONE},
  year={2012},
  volume={7}
}
Many online marketplaces enjoy great success. Buyers and sellers in successful markets carry out cooperative transactions even if they do not know each other in advance and a moral hazard exists. An indispensable component that enables cooperation in such social dilemma situations is the reputation system. Under the reputation system, a buyer can avoid transacting with a seller with a bad reputation. A transaction in online marketplaces is better modeled by the trust game than other social… 

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