Abstract
While existing works pay little attention to price setters and the application of artificial intelligence (AI) agents in second-hand trading, the current research examines whether, and how, price setter (AI VS. seller)affects buyers' willingness to pay (WTP)in the case of second-hand trading on P2P platform. 25 interviews and 3 online studies have been conducted to demonstrate the results: (i) compared with goods priced by sellers, buyers are more willing to pay for goods priced by platform AI (Studies 1&2), (ii) buyers' perceived objectivity mediates the relationship between price setter and buyers' WTP (Study 2), (iii) perceived reductionistic of AI eliminates the effect of price setter on WTP (Study 3), and (iv) augmented intelligence (vs. AI)can have equal effect on buyers’ WTP (Study 4). These findings offer considerable implications for practitioners on how to build an AI pricing agent that is superior to humans on P2P second-hand trading platforms while ensuring the well-being of platform traders.
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