A new market design to solve the mistrust problem in the home appliance repair industry
Stage
Product In Development
Industry
Internet / Web Services
Location
Buffalo Grove, IL, USA
Currency
USD
Founded
June 2020
Employees
1
Incorporation Type
LLC
Company Summary
The appliance repair market is a classical case of information asymmetry. Consumers generally don’t know what the problems are and how much the repair should cost. As a result, trust is a major concern. The solution lies in market design. I’ve filed a patent application on a market matching and pricing mechanism. The mechanism ensures that service providers have no incentive to inflate the cost.