In this paper, we use multiagent technology for social simulation of sociological micro-macro issues in the domain of electronic marketplaces. We argue that allowing self-interested agents to enable social reputation as a mechanism for flexible self-regulation during runtime can improve the robustness and 'social order' of multiagent systems to cope with various perturbations that arise when si...

We examine B2B e-marketplace designs and how these strategic choices affect both operating and financial performance. A theory-driven framework conceptualizes e-marketplaces as network orchestrators that create value by creating exchange opportunities, and facilitating economic and social exchanges. The locus of impact of e-marketplaces ranges from the network, where it accrues to all firms pot...

Electronic markets for information-intensive products are characterized by less than complete information about some product attributes even though these attributes influence the buyer’s purchase decision. We term this as an “Information Deficit” and investigate this phenomenon through an analytical model and through analysis of an extensive collection of data from currently functional online m...

Although E-Commerce has marketability as well as usefulness, there are few empirical research on consumer acceptance, explained by economic theory. This paper suggests that the consumer product acceptance is determined by the difference of transaction cost and some other factors, such as uncertainty and asset specificity. In addition, it suggests that the characteristics of digital products may...

In this work we investigate how the introduction of the Verified Purchase (VP) badge on Amazon.com affected both the review helpfulness and the product ratings. We first conduct a propensity score matching study and find that all else equal, camera reviews are on average ranked 7 positions higher than non-VP reviews, while book VP reviews are on average ranked 11 positions higher than non-VP re...

The development of new electronic markets is challenging, since many factors influence the market outcomes and hence the markets’ success. Even worse, a fundamental lesson learned from economics is that details matter: small changes in market design can have a significant impact on the market participant’s behaviors and thus on the achieved outcomes. Consequently a well structured process for d...

Information and data of high quality are critical for successful business performance in general and Business Networking in particular. As the trend toward sharing information between business partners and value networks is still increasing, the position paper aims at providing a comprehensive perspective on the state of research with regard to information and data quality in Business Networkin...

This paper investigates the effect of IT on a firm’s procurement governance. While some scholars posit that IT-enabled reduction in transaction costs will lead to more electronic markets, others claim that electronic partnerships will be the predominant governance for procurement. Empirical evidence about the IT effect on procurement governance is mixed. We argue that the phase of the industria...

This research uses functional data modeling to study the price formation process in online auctions. It conceptualizes the price evolution and its first and second derivatives (velocity and acceleration respectively) as the primary objects of interest. Together these three functional objects permit us to talk about the dynamics of an auction, and how the influence of different factors vary thro...

Today’s financial electronic markets are a result of the remarkable development in information technology during the last years. With the growth of electronization in financial markets and the establishment of new electronic trading services the design of the market structure moved in the focus of interest. Design decisions determine the market microstructure, influencing trading patterns and i...