逆向选择视角下信用评分机制与担保机制的效用研究——基于淘宝网的案例分析

文章以淘宝网U盘市场交易数据为样本，对信用评分机制和担保机制进行了实证分析。研究结果表明，信用评分机制和担保机制都有利于减少逆向选择所带来的负面影响。从两种机制对交易效率的影响来看，虽然信用评分机制对网络交易量仍然有显著性的影响，但担保机制对网络交易量的影响要明显大于信用评分机制对网络交易量的影响。从两种机制的相关性来看，尽管从时间和逻辑关系上讲，担保机制后于信用评分机制，但担保机制不能完全替代信用评分的作用，二者之间应该是一种互补的关系。在存在担保机制的情况下，消费者对网络商品的购买选择依然受到信用评分机制的影响。最后，最后文章提出了改进信用评分机制和担保机制的策略建议，以期促进网络交易效率的提高。

Effectiveness Research on Credit Scoring and Guarantee Mechanisms under the Adverse Selection Perspective: Case Study from Taobao.com

This paper takes transaction data from U disk market in Taobao.com as samples and analyzes the role of credit scoring mechanism and guarantee mechanism in e-commerce market in China. The results show that the credit scoring mechanism and guarantee mechanism can effectively offset the negative impact from the adverse selection problems. Although the credit scoring mechanism has a significant impact on transaction volume, guarantee mechanism has greater impact on the trading volume than the credit scoring mechanisms. In addition, the relationship between the guarantee mechanism and credit scoring mechanism is not substitutive but complementary for each other. In the case of the existence of the guarantee mechanism, online consumers’ purchase for online goods options is still subject to the impact of the credit scoring mechanism. The paper proposes strategy recommendations to improve credit scoring mechanism and guarantee mechanisms to promote the efficiency of online transactions.