Using an evolutionary game approach, this paper studies different equilibria in the electronic marketplace, and demonstrates that electronic transaction through a TTP is an evolutionarily stable strategy. According to the evolutionary game analysis, people will gradually adopt this strategy in the electronic marketplace.
Ba, Sulin; Stinchcombe, Maxwell; Whinston, Andrew; and Zhang, Han, "Trusted Third Parties in the Electronic Marketplace: An Evolutionary Game Approach" (1999). AMCIS 1999 Proceedings. 85.