Word: ebay
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...contrast to big commercial sites such as eBay, Craig's List has kept its homegrown, grass-roots feel. Customers in cities like San Francisco often complete their transactions in person. Quirky listings abound. "I have a dead raccoon. Looks like a male. About 15 lbs. ... Will sell for cash to highest bidder or trade for Six Feet Under--The Complete First Season on DVD," reads one. In the community section, members post everything from grocery-store etiquette to tips on how to give a cat a pill. In the forums, visitors rant against the projected war on Iraq and seek...
Online auction-goers searching eBay can bid on items ranging from automobiles to ant farms, and afterwards both buyers and sellers rate each other according to the smoothness of the transaction and the quality of the auctioned goods. The ratings are then made available to future eBay surfers...
While earlier studies found no correlation between an eBay seller’s customer satisfaction rating and their business success, Zeckhauser’s data indicates that online buyers spend about 7.6 percent more on products offered by highly-rated sellers...
...eBay’s rating system, buyers are too hesitant to give negative ratings,” he said. “Our quantitative study found that negative feedback only occurred 1 percent of the time, but when we spoke to a group of buyers, the percentage of negative eBay experiences was much higher...
Zeckhauser said his research on eBay remains unfinished. He said his next study will attempt to find out if buyers trust sellers as much as their ratings indicate...