The significance of the market structure, in particular the role of the market maker, on the overall success of a marketplace is still an unresolved issue. This paper examines market structures with a focus on the role of the market maker to identify the implications for participants of the various structures and mechanisms employed in electronic markets. Market maker strategies are classified ...

This paper describes research supporting the development of a conceptual model for understanding the sources of business value of Business-to-Business (B2B) Electronic Markets. Based on six case studies and an analysis of current literature, Aggregation, Matching, and Integration emerged as the three key sources of business value. The framework provides a structured and systematic approach for ...

The design of the microstructure of electronic markets is crucial for their success. Less effort has been made in this area, especially for commodity markets. This paper illustrates five key problems of market design and introduces the concept of cascading dynamic market models as a promising solution to cope with most of them. Taking the multi-dimensional character of commodities into consider...

The electronic market hypothesis (EMH) predicts that by reducing coordination costs, information technology (IT) will shift industrial organization from hierarchical to market-based forms of economic activity. While academic researchers and practitioners have witnessed these shifts with the advent of the Internet, there is little understanding about the process and the underlying forces that dr...

Much of the early research in electronic markets suggested that the proliferation of ecommerce would ultimately threaten the presence of intermediaries in electronic value chains. However, a careful analysis of the structure and functions of electronic marketplaces indicates that intermediaries provide many value-adding functions that cannot be easily substituted or ‘internalised’ through direc...

We examine the relative and complementary effectiveness of trust-building strategies in online environments. While prior research has examined various antecedents to trust, we investigated two trust-building mechanisms more in depth: Web site trust and vendor reputation. We tried to understand the relative effectiveness of these two important mechanisms to provide online businesses with a clear...

European businesses today are showing a significant interest in the concept of business process redesign, not in the least because its advocates promise a dramatic decrease in costs and a similar increase in sales. Since information and communication technology seem to play enabling roles, one can expect electronic markets to be significantly contributing to the effects of business process rede...