Buyer-Seller Relationships and the Economics of Information

Abstract

Section I In this paper, a theoretical framework is developed for the analysis of industrial buyer-seller relationships, using the concepts of search, experience and credence qualities, as known from Economics of Information theory. For this purpose, a dynamic perspective on this configuration is offered. By assuming a shift from experience qualities to search qualities in successive transactions, the evolution of the industrial buyer-seller relationship is explained. Section II The analysis indicates that Economics of Information theory may be a useful approach to analyzing industrial buyer-seller relationships. It allows an economic perspective on the phenomenon, while being measurable. The relationship-building can be explained and the changing dynamics of relationships over time can be described.

Halal company identity and halal restaurant loyalty: the role of customer satisfaction, customer trust and customer-company identification

“…The significant effect of halal identity prestige on customer trust in this study supports Sichtmann (2007), who reported that brand reputation and brand prestige significantly impact customer trust. Another study showed that identity prestige not only affects customers’ perceived usefulness through customer trust (He et al , 2016) but also directly affects customer trust of halal restaurants.…”

“…Concerning the relationship between halal company identity (halal identity similarity, halal identity distinctiveness and halal identity prestige) and customer trust, the result only confirms the roles of some aspects of a halal company identity. Although previous studies have indicated that company or brand identity affects customer trust (Doney and Cannon, 1997;He et al, 2012;Sichtmann, 2007;Keh and Xie, 2009;Walsh et al, 2009;Berens et al, 2005;Simoes et al, 2005), this study only showed that halal identity prestige positively affects customer trust, while halal identity similarity and halal identity distinctiveness do not successfully affect customer trust in the context of halal restaurants.…”

“…Hogg and Terry (2000) reported that people are likely to decrease insecurity when enhancing their similarities and distinctiveness with the social object. Furthermore, a prior study showed that brand reputation and prestige significantly and positively affect customer trust (Sichtmann, 2007). He et al (2016) found that identity prestige and the identity similarity of the brand significantly affect consumers' perceived usefulness via customer trust.…”

“…Scholars have rarely predicted customer trust based on the aspect of company identity; consequently, this study attempts to examine halal company identity and customer trust based on previous findings showing that the process of developing trust is related to brand identity (Doney and Cannon, 1997). Furthermore, brand or company reputation makes the customer enjoy their trust more (Sichtmann, 2007; Keh and Xie, 2009; Walsh et al , 2009). Previous studies focusing on corporate identity have shown that strong brand identity enhances trust (Berens et al , 2005; Simoes et al , 2005).…”

Customer co-creation and adoption intention towards newly developed services: an empirical study

“…Sirdeshmukh et al (2002) define consumer trust as the expectation that a firm is dependable and will deliver on its promises. Sichtmann (2007) and Comegys et al, (2009) have found that trust in a firm positively affects purchase intentions. Chen ( 2008) also argues that potential consumers use online consumer reviews as one way to reduce risk and uncertainty in the purchase situation, as it provides prior service experience on which they can base their belief or trust that a firm will deliver quality service.…”