THE chances are that you know someone who is bidding on an eBay online auction right now. eBay is a colossal phenomenon: it is talked about in newspapers, offices, bars and gyms across the world. Last year its gross profits were $1.75 billion, there were 971 million items listed for sale, and about 41 million people used the site.
Perhaps the most surprising thing about eBay is that its phenomenal success has been built on an unlikely commodity: trust between two individuals who have never met or spoken. On eBay, buyers and sellers know little more about each other than…
