After 470 auctions, Resnick found that the Swansons’ main account, with its high customer rating, earned an average of 8.1 percent more per transaction than the fakes. It was the first hard proof that a feedback score — a number generated by a collection of unrelated people — carries quantifiable real-world value.
“What we’re seeing here is a new kind of trust,” Resnick says. “It’s a kind of impersonal trust geared to situations with lots of interactions among strangers.”
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