In this paper, a model is built to analyse the influences of search costs on market equilibrium. According to the results of a simulation, we conclude that the equilibrium prices of e-markets are not always lower than those of conventional markets, especially under certain combinations of return costs and search costs. In addition, some managerial insights are derived from the simulation result...

Much has been written in recent years about the changes in corporate strategies and industry structures associated with electronic coordination of market activities. This paper considers the advent of electronic market coordination in the home mortgage industry, focusing on Computerized Lean Origination (CL O) systems. Case studies of five CLOs (First Boston’s Shelternet, PRC’s LoanExpress, Ame...

The need to reduce uncertainty and maintain flexibility in today’s competitive environment is increasing. Firms are looking for exchange partners who can fulfill not only price, volume and delivery requirements, but also meet higher-order needs for quality, responsiveness, and innovation. This paper reviews literature in management, economics and IT to identify the choices and challenges firms ...

In the past 20 years a variety of electronic markets have been set-up for the allocation of capacities in road transportation. Although, inefficiencies and cost pressures are high, the electronic markets have not succeeded so far. In this paper we will give an overview of the so-called electronic transportation exchanges and analyze the factors that were involved in the repeated failures. By us...

In this work, the optimal participation of heterogeneous, Renewable Energy Source (RES)-based Virtual Power Plant (VPP) in Day-Ahead Market (DAM) and Intra-Day (IDM) is studied. For purpose, a detailed model RES-based VPP market operation needed. The includes both dispatchable non-dispatchable RESs flexible demand assets. This paper presents an improved, linear solar thermal plant to consider i...

Purely financial players without any physical assets can participate in day-ahead electricity markets as virtual bidders. They arbitrage the price difference between (DA) and real-time (RT) to maximize profits. Virtual bidders encounter various monetary risks uncertainties their decision-making due high volatility of difference. Therefore, this paper proposes a max-min two-level optimization mo...

With electronic markets emerging on the Internet, the travel agency has been characterized as the most endangered organization in the travel industry as potential travelers now have the opportunity to bypass intermediaries in the distribution chain. Customers are offered good opportunities for convenient and inexpensive travel bookings on the Internet, but at the same time they face many proble...

Electronic Markets Electronic Markets Electronic Markets Electronic Markets Electronic Markets and Insurance and Insurance and Insurance and Insurance and Insurance Insurance and other financial services appear to be well suited to being sold electronically. No physical goods are involved , as insurance is in effect a purchase of a promise, in the form of a contract, which can be successfully d...

Electronic Markets represent one of the most important challenges in the emerging information society. Their broad scope cover all forms of business relationships between trading and manufacturing enterprises, information providers, service companies, consumers and public administrators. But today’s electronic markets on the Internet provide substantial advantages only for a single person in a ...