針對網路交易平台上的反淘汰問題,本文透過對於需求函數的估計來衡量訊息揭露對於解決此一問題的效果。網路平台上的賣家, 通常可以利用張貼商品照片的方式來揭露商品的特徵, 藉以減少訊息不對稱所造成的問題。在我們所研究的奇摩網站T 恤交易市場當中, 賣家所揭露的訊息可以依據照片內容區分為高、低兩種品質。我們的實證結果發現, 張貼高品質訊息的照片不但會面對較高的商品需求, 而且照片的數量對於需求也有正的邊際效果。另一方面, 張貼低品質訊息的
照片時, 照片張數對於商品的需求幾乎沒有任何影響。

We study the effect of information disclosure in resolving adverse selection by estimating the demand for a specific type of T-shirt sold
on the Yahoo! Auctions platform. To reduce information asymmetry
in Internet transactions, a seller usually voluntarily discloses product
information by providing photos on the website. The disclosed information
in the market we studied can be naturally separated into high and low quality levels. Not only does providing high-quality information
which accurately reflects product characteristics increase consumer
demand, but also an increase in the quantity of high-quality information will have a positive marginal effect. On the contrary, increasing
the amount of low-quality information has almost no effect on demand.