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Information 2016, 7(1), 4; doi:10.3390/info7010004

Closed-Loop Feedback Computation Model of Dynamical Reputation Based on the Local Trust Evaluation in Business-to-Consumer E-Commerce

1
School of Information Management & Engineering, Shanghai University of Finance and Economics, Shanghai 200433, China
2
Informatics Research Center, University of Reading, Reading RG6 6UD, UK
*
Author to whom correspondence should be addressed.
Academic Editor: Willy Susilo
Received: 18 December 2015 / Revised: 25 January 2016 / Accepted: 27 January 2016 / Published: 2 February 2016
(This article belongs to the Section Information Processes)
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Abstract

Trust and reputation are important factors that influence the success of both traditional transactions in physical social networks and modern e-commerce in virtual Internet environments. It is difficult to define the concept of trust and quantify it because trust has both subjective and objective characteristics at the same time. A well-reported issue with reputation management system in business-to-consumer (BtoC) e-commerce is the “all good reputation” problem. In order to deal with the confusion, a new computational model of reputation is proposed in this paper. The ratings of each customer are set as basic trust score events. In addition, the time series of massive ratings are aggregated to formulate the sellers’ local temporal trust scores by Beta distribution. A logical model of trust and reputation is established based on the analysis of the dynamical relationship between trust and reputation. As for single goods with repeat transactions, an iterative mathematical model of trust and reputation is established with a closed-loop feedback mechanism. Numerical experiments on repeated transactions recorded over a period of 24 months are performed. The experimental results show that the proposed method plays guiding roles for both theoretical research into trust and reputation and the practical design of reputation systems in BtoC e-commerce. View Full-Text
Keywords: reputation computation; local trust rating; beta distribution; closed-loop feedback reputation computation; local trust rating; beta distribution; closed-loop feedback
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Tian, B.; Han, J.; Liu, K. Closed-Loop Feedback Computation Model of Dynamical Reputation Based on the Local Trust Evaluation in Business-to-Consumer E-Commerce. Information 2016, 7, 4.

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