Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Applications
    • Applications

    Fair Outcomes Addresses E-commerce Disputes

    By
    Dan Berthiaume
    -
    May 20, 2008
    Share
    Facebook
    Twitter
    Linkedin

      Fair Outcomes, a provider of technology solutions that aid in negotiations, has released the test version of Fair Reputations, a solution designed to resolve disputes over e-commerce transactions and repair damage caused by negative online feedback. Fair Reputations is a module of the company’s Fair Proposals bargaining system.

      Jim Ring, co-founder and CEO of Fair Outcomes, said Fair Reputations uses aspects of game theory to help resolve disagreements between online buyers and sellers. “Game theory is a branch of economics that involves developing models of how people bargain with one another,” he said. “For example, you could create mathematical models of how you look at a board in a game of chess, with your deliberations based on what you think your opponent will do in response to your move.”

      Ring said Fair Outcomes essentially works using the principles of the “cake-cutting game,” where one child is told to cut two pieces of cake and a second child is allowed to choose the first piece. “It gives Johnny an incentive to cut the cake fairly, and Janie doesn’t have an excuse not to pick a piece of cake,” he said.

      Click here to read about how Freewebs promises to lower the barriers to e-retail with its Web Stores tool.

      In the case of a dispute over an Internet transaction where a buyer has left negative feedback about a seller, the seller can use Fair Reputations to make a confidential settlement offer. The buyer is then invited to use the system to make a confidential offer to accept the seller’s proposal. If the seller’s proposal meets or exceeds an outcome that the buyer defines as acceptable, then the matter settles for the amount proposed by the seller. If not, then the buyer can continue to revise their offer up to the deadline, which is a minimum of seven days.

      “In bargaining, people are afraid of appearing weak,” Ring said. “This allows confidentiality. The system can tell the buyer the seller’s settlement offer is not equal to or greater than their initial amount, and the seller can continue to set amounts up to the deadline, which is a minimum of seven days. If the buyer goes below the seller’s settlement offer, they get the full amount.”

      Ring said a buyer can also select “final offer arbitration,” in which an impartial arbitrator looks at the two settlement amounts and the specific details of the transaction and then decides which amount is fairer. The buyer can opt to not have the arbitration be binding unless the buyer wins. “This gives the seller a strong incentive to be fair,” Ring said.

      Ring said Fair Reputations can be used to resolve disputes in private online transactions conducted on sites such as eBay, Amazon.com and Google Checkout, as well as for any other e-commerce purchase for which buyers can leave negative feedback. While no e-commerce site has yet agreed to discount negative buyer feedback based on the results of a Fair Reputations settlement, Ring said he expects the solution will gain traction.

      “We are confident this system will be warmly welcomed by fair-minded buyers, sellers and e-commerce administrators,” he said.

      “I read the description of [Fair Proposals] and thought it ingenious,” said Thomas C. Schelling, a professor at the School of Public Policy of the University of Maryland. “More than that, I thought it ought to find a market. I think it works.”

      Ring said all user access to Fair Reputations is browser-based and protected by a variety of cryptographic systems. Sellers pay a $10 fee to initiate an invitation to resolve a dispute with a buyer.

      Dan Berthiaume

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×