Research On Incentive Mechanism Of Consumers' Online Reviews Based On Fair And Reciprocal Preference

In recent years,the Internet economy has continued to develop,and online shopping has long been one of the most common and important shopping methods.The biggest difference between“online shopping”and physical sales is that the products on the Internet cannot give consumers the most intuitive and authentic feelings.Consumers can only understand goods through pictures,videos,etc.,and such trading methods expand the information asymmetry between buyers and sellers.To solve this problem,the online shopping platform provides an online evaluation system so that consumers can evaluate the goods and merchant services in real time,and provide real and reliable information reference for other buyers,thereby reducing the risk cost.Studies have shown that merchant reputation and other consumer commentary information are the two major factors that influence consumers'decision to purchase.Therefore,from the perspective of merchants,how to motivate consumers to provide more favorable comments will directly affect the potential future earnings of the merchants.The domestic research on the incentives of consumers,online commentary is basically based on the hypothesis of "rational people".This paper considers consumers' reciprocal preferences and fair preference tendencies,and seeks new incentive contracts for businesses by establishing models.Classical economics has always used the "rational economic man" hypothesis as the basis for studying economic interaction activities.However,recent studies have shown that the main body of economic behavior deviates from "complete rationality".In economic activities,it often shows many social preferences,such as reciprocal preferences,fair preferences,altruistic preferences,etc.,which provides a new theoretical basis for the study of consumers' online reviews incentives.This paper is based on this kind of social preference theory,and based on the analysis of the principal-agent theory framework,and then seeks the optimal incentive contract by establishing models and formula derivation.The specific analysis framework is as follows:First of all,we look through a large number of relevant domestic and foreign literatures,combing the relevant experiments on the existence of social preferences and the development of social preference theory.The earliest writings in Adam Smith vividly illustrate the idea of fair reciprocity and become an important theory of behavioral economics.,in accordance with.Later,after the research and development of Geanakoplos and others,the relationship between psychology and economics was put forward,and the theory of "psychological game" was proposed.Rabin et al.then developed the theory of thought by modeling the "belief" by establishing a utility function.In the theoretical overview,Rabin's fair reciprocity model and F-S fairness preference model,as well as the traditional principal-agent model,are introduced in detail,which lays a theoretical foundation for the modeling analysis of reciprocal preference and fairness preference in principal-agent theory.Secondly,we constructed an incentive model that incorporates reciprocal preferences.Under the analysis framework of the principal agent,the paper analyzes the influence of the irrational behavior led by the reciprocal preference of the consumer on the expected return of the merchant,and discusses the impact of the existence of the optimal contract at this time on the utility of the merchant and the consumer.The analysis shows that the principal may consider the irrationality of the agent under the influence of some parameters.In order to obtain greater profits,a reciprocal principal-agent incentive contract will be formulated.The non-rational agent feels the goodwill and fairness of the principal.Later,paying more effort than the traditional model to achieve reciprocal results,the client also got a higher profit than the HM model.It is shown from the side that the optimal contract of the H-M model is not the Pareto optimal,and the new principal-agent model that introduces the reciprocal preference is a kind of Pareto improvement.Then,from the perspective of reciprocal preference behavior among consumers,the "sequential reciprocal game model"is constructed to analyze the game psychology of consumers'comments.Then we establish the principal-agent incentive model which incorporated the fairness preference.Because there are irrational behaviors of fairness preference between consumers,and between merchants and consumers,we comprehensively considers the influences of horizontal equity preference and vertical equity preference,and establishes a model.Then we solve and analyze the model respectively under the condition of symmetric information and asymmetric information,and we conclude that consumers provide positive reviews and their positive fairness preferences are positively correlated.Last we set the appropriate incentive mechanism according to the results of the model.Finally,based on the research results,we will give relevant suggestions and measures to stimulate consumers' online evaluation,and summarize the shortcomings of this paper and forecast the future direction for improvement.