Transaction Streams: Definition and Implications for Trust in Internet-based Electronic Commerce
نویسندگان
چکیده
In this paper we analyze how transactions related to the exchange of goods and services are being performed on the Internet. The adoption of electronic markets in an industry has a disintermediation potential because it can create a direct link between the producer and the consumer (without the need for the intermediation role of distributors). Electronic markets lower the search cost, allowing customers to choose among more providers (which ultimately reduces both the costs for the customer and the profits for the producer). In this paper we contend that electronic markets on the Internet (1) have the opposite effect, resulting in an increase in the number of intermediaries. We introduce transaction streams which model how transactions are being conducted and help explain the types of new intermediaries that are appearing on the Internet. We also describe mechanisms by which companies are exploring ways of extending transaction streams. To illustrate the model and validate our findings, we analyze transaction streams in the insurance industry and review associated concepts such as trust and brands. (1) We use the Internet as an example of a relatively mature electronic commerce infrastructure. Similar conclusions can be derived in other networks. TRANSACTION STREAMS: DEFINITION AND IMPLICATIONS FOR TRUST IN INTERNET-BASED ELECTRONIC COMMERCE
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