To test whether naturally occurring markets can be strategically manipulated, $500 and $1,000 bets were made, then canceled, at horse racing tracks. The net effects of these costless temporary bets give clues about how market participants react to information large bets might contain. The bets moved odds on horses visibly (compared to matched-pair control horses with similar prebet odds) and ha...

will compete. On the contrary, their integration would resu!t in a big monopoly. Similarly, electronic markets would emerge in several places simultaneously and initially be unwilling to merge. Only as competitive pressure inceases they would integrate horizontally, probably forming a national market. Thus, I agree with Schmid that electronic markets are (or better, can be) open systems technol...

In many industries agent-intermediated markets are inefficient because information about latent demand and supply never gets to market. We demonstrate how information technology in the form of an agent-intermediated electronic market (EM) alleviates this problem by enhancing the agent-as-market-maker using the international freight transportation industry as an example. We find that an EM incre...

The electronic markets hypothesis holds that information technology use influences the dismantling of vertical firm boundaries because of reductions in the cost of transactions between firms. Anecdotal evidence of merger and alliance activity for information goods producing firms seems to be at odds with these predictions of an IT-driven rise in vertical market coordination structures. An inter...

Until recently, electronic markets were dominated by the combination of static offer schemes and fixed pricing. Static offer schemes such as online catalogues apparently bear the risk of not matching the requirements of all potential buyers. But fixing a price also imposes another risk to the seller the price might not always reflect the current market balance of supply and demand and the speci...

This paper examines the value drivers and e-business infrastructures for collaborative commerce across two distinct types of business-to-business governance arrangements in Financial Services, i.e., (a) electronic markets and (b) electronic networks. This paper addresses the changing dynamics underlying global trading communities as they evolve towards greater reach and range of services for th...

The article discusses the issues of conducting transactions for agricultural products via the Internet between businesses. In particular, it is dedicated to the so-called electronic agricultural commodity marketplaces that are virtual meeting places of buyers and sellers of agricultural commodities. The purpose of this article is an indication of the changes taking place in the agricultural mar...

We explored the relative effects of adverse working conditions, job satisfaction, wages, worker characteristics, and local labor markets in explaining voluntary job separations (quits) among employed workers with psychiatric disabilities. Data come from the Employment Intervention Demonstration Program in which 2,086 jobs were ended by 892 workers during a 24 mo observation period. Stepped mult...