演講者簡介 : Professor Herrera received his Ph.D. in Economics from New York University in 2002. He is currently an Associate Professor at University of Warwick. His research interests are Political Economy, Applied Theory, Macroeconomics, Experimental Economics, and Financial Economics.
演講摘要 : We propose a model of product reviews with honest and fake reviews in order to study the value of information provided on platforms like TripAdvisor, Yelp, etc. In every period, a review is posted which is either honest, i.e., it reveals the reviewer's true experience with the product/service, or fake, i.e., it is fabricated in order to manipulate the public's beliefs. We establish that the equilibrium is unique and derive a number of robust and interesting results. While fake agents are able to manipulate the public's beliefs, aggregation of information takes place as long as some of the reviews are honest.
