Designing electronic markets is still a rather intricate process. eNegotiation and thereby trading rules embody the core of the institution ”electronic market”. Although success or failure of electronic markets is strongly influenced by the design of the trading rules the design process currently constitutes a trial-and-error game. It is only partly guided by theory and by all available evidenc...

Electronic markets, dispute resolution and negotiation protocols are three types of application domain that can be viewed as open agent systems. Members of such systems are developed by different parties and have conflicting goals. Consequently, they may choose not to, or simply fail to, conform to the norms governing their interactions. It has been argued that many practical applications in th...

Journal of Research and Practice in Information Technology, Vol. 46, No. 4, November 2014 Copyright© 2014, Australian Computer Society Inc. General permission to republish, but not for profi t, all or part of this material is granted, provided that the JRPIT copyright notice is given and that reference is made to the publication, to its date of issue, and to the fact that reprinting privileges ...

It is often argued that as electronic markets lower the cost of market transactions, traditional roles for intermediaries will be eliminated, leading to “disintermediation.” We discuss the findings of an exploratory study of intermediaries in electronic markets, which suggest that markets do not necessarily become disintermediated as they become facilitated by information technology. We explore...

sive development in electronic commerce. The reasons for that are, of course, the Internet and the World Wide Web, which are making electronic commerce much more accessible. They offer easily usable and low cost forms of electronic commerce. Electronic commerce on the basis of the Internet is set to become a very important way of doing business. Forrester (1997) forecasts that businessto-busine...

When approaching electronic capital market design and microstructure with the focus of analysing and improving existing markets with end-state analysis, it is necessary to name an ideal objective. This serves the purposes of technology evaluation and the development of a standard framework for structural measurement in modeling and language paradigm design. An ideal capital market architecture ...

T paper examines the contribution to price discovery by electronic and voice-based trading systems in the U.S. Treasury market. Evidence shows that the electronic trading system has more price discovery and that trading automation increases the speed of incorporating information into prices. However, human trading generates significant price discovery, though its volume is low. The relative con...

Developments in network technology have enabled an increasing variety of interorganizational relationships. While the interorganizational systems (IOSs) that support electronic markets or customer/supplier relations have been discussed in the literature, those which support `symbiotic networks' ± those which form horizontal alliances to allow collaboration on the collective production of goods ...

Electronic markets and especially online auctions gain more and more importance and a plethora of market mechanisms is emerging on the Internet. The great variety of trading rules hinders agents easily switching between different marketplaces and, therefore, fragments the overall market – supply and demand might fail to meet due to agents’ inability to interact with the same market mechanism. T...

Trading in electronic markets has been the focus of intense research over the last few years within the areas of Articial Intelligence and Economics. This paper discusses the need for tools to support the design and implementation of electronic market games. Such games simulating real life problems can be used in order to conduct research on mechanism design, markets and strategic behaviour. T...