Abstract
In modern society, every one of us is fully aware that trust and credit are the substantial principle that we must own to build up our relationship, networking or individual development from beginning of birth to end of journey. Thus, trust and credit are undoubted basis for our social composition, especially at current stage, where e-commerce or e-trade mode change our traditional way of life significantly. One interesting thing we are witnessing is that, more and more popularity of the online second-hand product market, so how to understand trust game theory properly, with follow-up the rule to implement in this market, is essentially important for both of the buyer and the seller. Herein this article, some real cases’ studies from China second hand market will help reader for this purpose illustration. This study contains much of the current study and discoveries of trust game and second-hand transaction market in China. Based on the previous knowledge, the suggestions for both consumers and the second-hand market producers are given.
Highlights
What we may need specially in modern society development, unilateralism or Multilateralism? It is the most popular topic, or maybe an argument
No matter of Unilateralism or Multilateralism there might be in the world, the most essential part or behind of such argument, is the trust among of ourselves to build and maintain, as well as the positive or negative result brought from such trust
3.2.1 The risks for buyers: The Economic Person Assumption has pretending that people are completely rational and selfish, which means that both side of the game will only care about their benefits
Summary
What we may need specially in modern society development, unilateralism or Multilateralism? It is the most popular topic, or maybe an argument. What we may need specially in modern society development, unilateralism or Multilateralism? After four decades of development in globally post-Cold War era, Multilateralism has become the fundamental part, no matter on manufacture supply chain, global service, banking and trading, or even the considerable approach in global diplomatic affairs in some particular areas with international dispute. No matter of Unilateralism or Multilateralism there might be in the world, the most essential part or behind of such argument, is the trust among of ourselves to build and maintain, as well as the positive or negative result brought from such trust. By reading and learning from this article, there would be something expected to output and introduce the readers about the basic theory of the trust game, some real cases specially in China second hand market, in relation to trust game implementation, as well as what is important to build trust game model and how the steps are moving forward
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