Previous research suggested that the performance of interorganisational processes can be influenced by eight factors: stakeholders, competition, information technology, market network design, perceived risk, process design, information, and trust. This paper specifically focuses on the consequences of market network redesign for interorganisational processes. A distinction is made between trans...

Though auctions show a prevailing dominance in electronic markets, our understanding of how auctions affect human behaviour is still rather limited. In this paper we analyse the impact of emotional processes on the decision making of human agents in electronic auctions. The analysis is based on a physio-economic study, in which human agents take part in a Dutch auction experiment, while their p...

This chapter explores the private and social desirability of information transparency of a business-to-business (B2B) electronic market that provides an online platform for information transmission. The abundance of transaction data available on the Internet tends to make information more transparent in B2B electronic markets. In such a transparent environment, it becomes easier for firms to ob...

This paper takes the view that providers of electronic markets are to be considered as economic actors in a strategic game played with potential buyers and sellers. The crucial assumption clearly concerns the choice of instruments that a market provider is considered to have at hand. Contrary to large parts of mainstream economic theory, which assume a simple perfect auction market setting guar...

This article presents a new option pricing principle that is more useful than the no-arbitrage principle, especially for incomplete markets. The focus here is on ideas behind mathematics— why the new theory is warranted, and how common sense dictates its construction. I. Complete and Incomplete Markets The real financial world is too complicated for anyone to understand it completely. Thus a si...

This paper examines the volatility dynamics of the greater China stock markets (Shanghai Aand Bshares, Shenzhen Aand B-shares, Taiwan, and Hong Kong) by employing a multivariate (tetravariate) framework that incorporates the features of asymmetries, persistence, and time-varying correlations, which are typically observed in stock markets of developed economies. Specifically, we introduce two ne...

The restructuring process of electricity markets in Europe started in the late 1990s and is still going on. This process was triggered by the Directive 96/92/EC of the European Parliament and of the Council concerning common rules for the internal market in electricity (EC, 1997). This article will analyse the recent developments in the liberalised Western and Central European electricity marke...