Risk-based trust management for e-commerce

Chong, Soon-Keow and Abawajy, Jemal 2010, Risk-based trust management for e-commerce, in Trust modeling and management in digital environments : from social concept to system development, Information Science Reference, Hershey, Pa., USA, pp.332-351.

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Title Risk-based trust management for e-commerce
Author(s) Chong, Soon-Keow
Abawajy, Jemal
Title of book Trust modeling and management in digital environments : from social concept to system development
Editor(s) Yan, Zhang
Publication date 2010
Chapter number 14
Total chapters 21
Start page 332
End page 351
Total pages 20
Publisher Information Science Reference
Place of Publication Hershey, Pa., USA
Summary Electronic commerce (e-commerce) offers enormous opportunities for online trading while at the same time presenting potential risks. Although various mechanisms have been developed to elevate trust in e-commerce, research shows that shoppers continue to be skeptical about buying online and lack of trust is often cited as the main reason for it. Thus, enhancing success in e-commerce requires eliminating or reducing the risks. In this chapter, we present a multi-attribute trust management model that incorporates trust, transaction costs and product warranties. The new trust management system enables potential buyers to determine the risk level of a product before committing to proceed with the transaction. This is useful to online buyers as it allows them to be aware of the risk level and subsequently take the appropriate actions to minimize potential risks before engaging in risky businesses. Results of various simulation experiments show that the proposed multi-attribute trust management system can be highly effective in identifying risky transaction in electronic market places.
ISBN 9781615206827
1615206825
Language eng
Field of Research 150399 Business and Management not elsewhere classified
150205 Investment and Risk Management
Socio Economic Objective 910402 Management
HERDC Research category B1 Book chapter
HERDC collection year 2010
Copyright notice ©2010, Information Science Reference
Persistent URL http://hdl.handle.net/10536/DRO/DU:30028448

Document type: Book Chapter
Collection: School of Information Technology
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Created: Sun, 25 Apr 2010, 12:26:51 EST by Jemal Abawajy

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