B2C transactions took modern form in the late 1800s
Sears: mail order began in 1880s
Balancing trust and risk:
Send product and wait for payment?
Demand payment before sending the product?
Reputation and economies of scale were early barriers in this form of remote conmmerce
Clay and Strauss (2002)
II. Where did it come from?
Sending product in exchange for partial payment
This decreases risk on both sides
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