Product Information Websites: Are They Good for Consumers?

• 成果类型: Article
• 署名作者: Markopoulos, Panos M.; Aron, Ravi; Ungar, Lyle H.
• 署名单位: University of Cyprus; Cornell University; University of Pennsylvania; Johns Hopkins University; University of Pennsylvania
• 刊物名称: JOURNAL OF MANAGEMENT INFORMATION SYSTEMS
• ISSN/ISSBN: 0742-1222
• DOI: 10.1080/07421222.2016.1243885
• 发表日期: 2016
• 页码: 624-651
• 关键词: EMPIRICAL-ANALYSIS; reviews; experience; price; recommendations; Attributes; QUALITY; welfare

摘要

Product information websites have become ubiquitous in supporting B2C E-Commerce. This study explores their impact on firm profitability, consumer surplus, and social welfare. Using an analytical model, we show that firms take advantage of such infomediaries and reduce their own information investments, increasing their profitability. Surprisingly, we find that the existence of these websites may actually reduce social welfare. Contrary to the common belief that product information websites are good for buyers, we show that they may be hurting consumers, even when they seek to maximize consumer surplus as their principal goal. These findings question the uncritical acceptance of infomediaries as beneficial to markets in general, and buyers in particular, especially when the infomediaries assume roles that substitute the information disclosure investments that sellers freely choose to make.