Country-Specific Effects of Reputation and Information: A Comparison of Online Auctions in Germany, the UK, and the US

Empirical studies on the effect of sellers’ reputation on closing prices in online auctions present mixed results. A large number of studies addresses reputational effects in one country, especially in the US. Only a small number of cross-country studies inspect the moderating role of institutional frameworks on bidder behavior. The purpose of this paper is to examine if country-specific differences in the formal and informal institutional framework influence the effects of reputation and information signals on final prices in online auctions. From the perspective of the New Institutional Economics, management decisions and individuals’ characteristics are affected by the institutional framework, which consists of cultural aspects as well as a set of social and legal rules and regulations. Therefore, bidders that are influenced by one institutional framework have different preferences, expectations, and perceptions about reputation and information in online auctions than individuals socialized by another institutional framework. In order to examine the effects of reputation and information on prices as well as to asses cross-country similarities and differences in these effects, a sample of 6,166 homogenous online auctions, conducted on the respective eBay websites in Germany, the UK, and the US, is analyzed. The results suggest that either the effects of reputation and product information variables vary significantly across countries or that different variables have an impact on prices in different countries. It can be concluded that country-specific institutional frameworks influence bidder behavior in international online auction markets.reputation, information, online auctions, cross-country studies

Country-Specific Effects of Reputation and Information: A Comparison of Online Auctions in Germany, the UK, and the US

Empirical studies on the effect of sellers' reputation on closing prices in online auctions present mixed results. A large number of studies addresses reputational effects in one country, especially in the US. Only a small number of cross-country studies inspect the moderating role of institutional frameworks on bidder behavior. The purpose of this paper is to examine if country-specific differences in the formal and informal institutional framework influence the effects of reputation and information signals on final prices in online auctions. From the perspective of the New Institutional Economics, management decisions and individuals' characteristics are affected by the institutional framework, which consists of cultural aspects as well as a set of social and legal rules and regulations. Therefore, bidders that are influenced by one institutional framework have different preferences, expectations, and perceptions about reputation and information in online auctions than individuals socialized by another institutional framework. In order to examine the effects of reputation and information on prices as well as to asses cross-country similarities and differences in these effects, a sample of 6,166 homogenous online auctions, conducted on the respective eBay websites in Germany, the UK, and the US, is analyzed. The results suggest that either the effects of reputation and product information variables vary significantly across countries or that different variables have an impact on prices in different countries. It can be concluded that country-specific institutional frameworks influence bidder behavior in international online auction markets

Trust within the Organizations of the New Economy: an Empirical Analysis of the Consequences of Institutional Uncertainty

This study investigates the effects of different institutional frameworks on the levels of trust within hierarchies. Following the insight into the changing of labour contracts provided by New Economy theorists and International Labour Organization [ILO] reports, this study investigates the possible differences in the levels of trust between two paradigms: the Old Economy and the New Economy. We argue that singular institutional changes which better characterize the New Economy in the form of environmental uncertainty set considerable constrains on trust development. By approaching trust as a dependent variable in a cross-industrial comparison, a questionnaire survey was carried out in Brazil accessing the levels of trust within seven Brazilian private companies. From the literature review and empirical observation of the reality of these organizations, companies were identified and classified into different groups. The study concludes that relative high institutional uncertainty considerably limits the development of trust levels within those companies operating in the New Economy

Aufgabenanalyse und Anreizgestaltung als Voraussetzungen für interkulturelles Training

Unsere Problemstellung ist folgende: Unter welchen Bedingungen sind multikulturell besetzte Arbeitsteams erfolgreicher als monokulturelle? Diese Frage ist für die Praxis wichtig, weil "multicultural teamwork" zu einem weiteren Managementslogan geworden ist, der dazu führt, dass multikulturelle Teamarbeit teilweise relativ unsystematisch zum Einsatz kommt und dann mitunter mehr Probleme als Erfolge generiert. Zur Vermeidung oder Lösung von interkulturellen Konflikten greift die Praxis oft auf interkulturelles Training (IKT) zurück. Ergänzend dazu lautet unsere These, dass der Einsatz von multikulturellen Teams nur dann überhaupt effizient sein kann, wenn die zu erfüllende Aufgabe bestimmte Eigenschaften aufweist. Diese müssen den durch die Heterogenität der Teammitglieder erhöhten Koordinationsaufwand rechtfertigen. Beim Auftreten von Problemen in multikulturellen Teams sollte man also zunächst einen Schritt zurücktreten und noch einmal analysieren, ob und warum man für die gegebene Aufgabe überhaupt ein multikulturelles Team braucht. Außerdem sind einige Prinzipien der Anreizgestaltung zu beachten. Durch ein solches Vorgehen kann man IKT zielorientierter einsetzen und so die Differenz zwischen der Bruttowertschöpfung eines multikulturellen Teams und den Transaktionskosten -und damit den Nettogewinn für das Unternehmen- vergrößern