Study On The Risk And Accountability Of Trading Platform's Self-regulation

Network trading platform is experiencing rapid rise and influencing every individual's daily life.These trading platforms have the characteristics of attracting transaction volume with network effect,reducing transaction cost with efficient search and matching ability,and owning dual attributes of enterprise and market.Trading platforms need to meet four constraints of cross-network externality,non-neutral price structure,direct trading between buyers and sellers,and the higher cost of exit of both parties.The investigation of the network trading platform should be placed in the perspective of the dynamic evolution of the trading platform.Network trading platform is the latest stage in the evolution process of trading platform.It not only has the common attributes of trading platform,but also has new characteristics of the Internet era.The reason why trading platforms adopt self-regulation is that self-regulation is the most natural form of regulation,and that "commandcontrol" regulation will encounter tremendous regulatory difficulties in emerging areas where trading platforms are located with strong industry heterogeneity.Network trading platform is not limited within physical territory and has the advantage of technical structure.It is difficult to avoid the incompleteness of law and the insufficiency of law enforcement.Selfregulation also has information advantages,which can effectively reduce the binary opposition in risk perception and promote the compliance of the regulated.Therefore,the government not only achieve the purpose of regulation,but also do not have to bear the regulatory costs and regulatory responsibilities and other advantages.The network trading platform constructs a normative closed-loop,which has regulatory effect on the users of the platform.Trading platform's selfregulation can eliminate the bias brought by risk and better respond to the "decentralized" regulation system in a functionally differentiated society.The research on the network trading platform should be placed in the dynamic perspective of the evolution of the trading platform.This corresponds to a proposition of legal pluralism: under certain conditions,in a given field,it is the normative order of non-state laws that plays a more important role.The study of self-regulation is helpful to understand the structure and mechanism of social autonomy,upgrade the responsive law and make the law better meet the needs of the society.The purpose of self-regulation is to reduce the cost and risk of trading platforms,but risk is ubiquitous and inavoidable.Risk has evolved into an indispensable background in modern society.Trading platforms may not only produce risk from the perspective of science and technology,that is,technical and systematic risk including abnormal trading caused by technical faults and data leakage caused by system vulnerabilities.It may also result in the risk that can be attributed to decision under the social science orientation,including the risk of discriminatory pricing,search ranking,targeted advertising and other algorithms,as well as the risk of oversight risk of trading platform and abuse of self-regulation system.The main reason for the risk of self-regulation of trading platforms is that they construct various "powers" in the process of self-regulation.In the process of self-regulation,trading platforms have constructed various "powers",including power to impose penalties and power to control data.Most of the time,the power of trading platform is not expressed as "suppression" and "censorship" in the traditional sense,but more like a power based on "consent",using code,software,architecture and protocol to penetrate into "the most delicate individual behavior".The trading platform also interacts with the private power of citizens as well as the public power of the state.The state power may be evaded by the platform power,or may shape or even incorporate the platform power.Different platforms will actively choose or passively accept different power relations.Platform power constructs the "decision maker" and "decision affected person",thus constituting the premise of various risk.Trading platform will produce different types of risk;thus,it is necessary to strengthen risk communication between trading platforms,users and the public.The platform needs to explain the creation and modification of selfregulation rules,the self-regulation rules themselves,and the implementation of self-regulation rules,so as to bridge the gap of risk awareness between the platform and the public.This explanation obligation is not mandatory and should not be directly intervened by the government.It is appropriate for all parties to form a strong external pressure,which forces the platforms to set limits and improve the accountability mechanism.Risk communication needs to gradually change from the pursuit of "openness" to the pursuit of "transparency"."Openness" is often associated with objective dot or block information,while "transparency" has obvious value orientation,hoping to make the operation of platform rights clear through the entry of democratic ideas.If risk communication is not effective enough,and the potential risk becomes substantial damage,the trading platform also needs to assume the compulsory "attribution-liability" responsibility.To regulate self-regulation,we need to consider disorder cost and autocracy cost,and then make choices between judicial intervention and administrative supervision.For the network trading platform,the existence of "constant total regulation intensity" and the regulatory ladder should be taken into account.Different platforms should choose appropriate external intervention modes according to the size of risk and externalities,infiltrate the spirit of the precautionary principle and the recovery principle into the regulation process.So as to achieve a balance between respecting self-regulation,protecting users' interests and promoting industrial innovation.`...