A study on perceptual depreciation and product rarity for online exchange willingness of second-hand goods. (20th December 2019)

• Record Type: Journal Article
• Authors: Chang, Kuei-Feng; Shih, Hui-Chuan; Yu, Zhongdong; Pi, Shenglei; Yang, Hua
• Is Part Of: Journal of cleaner production. Volume 241(2019)
• Publication Date: 2019-12-20
• Subjects: Perceptual depreciation -- Product scarcity -- Willingness to exchange; Factory and trade waste -- Management -- Periodicals; Manufactures -- Environmental aspects -- Periodicals; Déchets industriels -- Gestion -- Périodiques; Usines -- Aspect de l'environnement -- Périodiques; 628.5
• DOI: 10.1016/j.jclepro.2019.118315
• Languages: English
• ISSNs: 0959-6526

Abstract

Abstract: In the context of global advocacy for sustainable development, how to reduce the consumption of resources through sustainable use of goods is an important issue. Although people can get what they need through the exchange of second-hand goods, the pre- and perceptual processes that trigger the willingness to exchange need to be clarified. This study found that perceived depreciation leads to a decrease in exchange reference prices and perceived transaction costs, while product scarcity increases exchange reference prices and perceived transaction costs. Second, the exchange reference prices and psychological premiums help to increase the traders' willingness to exchange. Finally, when barterers have higher perceived transaction costs, they are more likely to engage in exchanges without being affected by transaction costs. However, for traders in platform industry, it is necessary to provide commodity information to meet the needs of the barter, and to provide a product scarcity identification mechanism to help the barter to set the transaction reference price. Moreover, it is necessary to provide a communication platform for both parties to further determine the value of the goods, so as to facilitate the exchange of goods between the two parties. (The research findings are based on the conclusions of this paper). Highlights: Perceived depreciation results in reduced exchange reference prices and perceived transaction costs. Perceived depreciation has a different effect on psychological premium. Product rarity increases exchange reference prices and perceived transaction costs. Reference prices impacts on consumer's willingness to exchange second-hand commodities. Psychological premium impacts on consumer's willingness to exchange second-hand commodities. High perceived transaction costs enhance barterers engage in exchange behavior.