This paper uses game theory models to study and compare the efficiency differences in sustaining truthful feedback between simultaneously-revealed and non-simultaneously-revealed lateral reputation systems．We find that the equilibrium feedback of the non-imultaneously-revealed bilateral putation system does not reflect bad trading outcome when the buyers strictly prefer to punish certain type of sellers． Strict constraints on both seller’s and buyer’s behavior are required shall non-simultaneously-revealed bilateral reputation system be able to reflect bad trading． On the other hand，truthful feedback can be sustained by simultaneously-revealed bilateral reputation system and is the only equilibrium outcome when the buyers strictly prefer to punish certain type of buyers．