A Study of Determinants of Successful Selling in the Internet Second-Hand Market

Internet shopping is the shopping method modern people often use. The Internet can make the transaction fast and convenient. However, there is higher uncertain risk in the Internet virtual market than the traditional material market. Especially, the problem of information asymmetry is more serious in the Internet second-hand market. The major purpose of this study is to understand the influence that information asymmetry has on the trading results of the Internet second-hand market. Moreover, referring to research papers of past scholars, this study chooses some factors that may affect the buying wills of consumers in the Internet second-hand market, including signals of the product, seller trust and word-of-mouth of Internet, and confers the influence these factors have on the trading results of the Internet second-hand market through the empirical analysis.
The main findings of this study are as follows：
1.The higher the absolute price, the relative price or the appraisal of brand of the commodity is, the higher the probability of trading successfully is. It shows that there is adverse selection in the Internet second-hand market because of information asymmetry.
2.The commodity whose seller provides the actual photo has a higher probability of trading successfully. It shows that signals of the product may affect the trading results of the Internet second-hand market.
3.The more the seller issued articles, the higher the probability of trading successfully is. It shows that seller trust may affect the trading results of the Internet second-hand market.
4.The more recommendation population of the commodity is, the higher the probability of trading successfully is. It shows that the positive word-of-mouth of Internet may affect the trading results of the Internet second-hand market.