Your rating: 5.0 - Excellent!
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Answer:
ok
Explanation:
please mark as brainleast
Answer:
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Online marketplaces for goods and services are increasingly valuable and powerful. Yet many of them remain surprisingly unsophisticated when it comes to their reputation systems, which typically take the form of five-star ratings.
From investing in and advising dozens of marketplace businesses for more than a decade, we have found that while simple five-star systems are good enough at identifying and weeding out very low-quality products or suppliers, they do a poor job of separating good from great products or suppliers. This may not be a big issue for marketplaces offering commodity products and services (e.g., Lyft and Uber), but it can be a serious problem for marketplaces where it is important to allow truly great providers to differentiate themselves clearly (e.g., 99designs, Fiverr, Upwork). (Disclosure: One of us — Josh — owns shares of Upwork and Yelp).
As currently implemented, five-star rating systems suffer from several shortcomings. Lacking incentives for providing truthful feedback, users who have extreme experiences (either very bad or very good) are much more likely to leave feedback than users who have average experiences, thus creating selection biases. Ratings are also prone to “grade” inflation, so that in some marketplaces having a 4.8-star average, or 96% positive feedback, does not mean that the supplier is particularly exceptional. And on some marketplaces, the difference between 4.5 stars and 4.8 stars could be massive, making it hard for users to differentiate OK suppliers from very good ones