Enhancing Electronic Markets for Industrial Services by Trust Features

Abstract

The level of trust in a service provider is an important decision factor when buying industrial services. Especially, the outcome uncertainties of services, its individuality, and asymmetric information between buyer and seller are some reasons that the evaluation of trust is a key component in service trading. Consequently, searching of potential new suppliers involves examining providers’ trustworthiness. This paper focuses on the study of online trust signals used by buyers, to assess provider’s trustworthiness in the context of industrial services. The main research objective is to propose the basis for a digital tool, which helps buyers to assess provider’s trustworthiness by providing a “standardized trustworthiness signal description” and “trust functionalities.” A particular approach is used, wherein different methods are mixed such as a case study, expert interviews, and a quantitative method following the guideline of the design science paradigm. The aim is to propose a useful tool for trustworthiness assessment to enhance e-markets for industrial services.

Citation

Bauer, W., Dorn, J. and Pryakhin, I. (2019), "Enhancing Electronic Markets for Industrial Services by Trust Features", New Insights on Trust in Business-to-Business Relationships (Advances in Business Marketing and Purchasing, Vol. 26), Emerald Publishing Limited, Leeds, pp. 53-86. https://doi.org/10.1108/S1069-096420190000026007