Abstract: The asymmetry of information leads to consumers cannot accurately understand the seller or supplier credit of online shopping platform, and cannot understand whether shopping platform fulfills the duty of public goods information. All of these lead to the adverse selection and moral hazard in online shopping transaction, so that a stable, long-term relationship between online shopping platform and consumers is difficult to be established. This paper explores the formation mechanism of psychological contract between online shopping platform and consumers by using game theory, and then discusses the strategy choice of online shopping platform reputation under consumer regulation from the perspective of bounded rationality game combined with the incentive and restraint effect of reputation theory. Game results show that consumer supervision on the online shopping platform has a certain role in the constraints, and whether the performance of psychological contract is influenced by the cost of performance, the performance award and the nonperformance penalty; the establishment of reputation can motivate online shopping platform to fulfill the psychological contract responsibility; maitaining long-term psychological contract relationship and establishing reputation strategy can effectively avoid or reduce the adverse selection and moral hazard problems which are caused by information asymmetry.

Key words: consumer psychology, psychological contract, online shopping platform, reputation theory