Money is an information system to value, record, and track economic transactions. It is an information system with minimal semantics and centralized control. Consequently, the monetary system fails to support many transactions directly, but requires intermediaries such as banks, brokers, insurance companies, credit card companies, and investment firms, increasing transaction costs greatly. Sema...

Grid and peer-to-peer computing are becoming pervasive. Every night personal computers are sharing files, cracking encryption codes and searching for aliens. Wireless devices and users will join the grid, changing grid infrastructure requirements. Smaller, wireless communication devices offer exceptional promise but also create known and unknown problems. A wireless grid promises to enhance the...

To have an efficient and reliable infrastructure is crucial to any electronic market. Most existing electronic markets only provide limited services, such as, communication supports between buyers and sellers, databases to increase the selections, and market information to help estimation of reasonable transaction prices. In this paper, we propose a new electronic market, an Internet-based clea...

A growing number of companies organize their activities in virtual settings The reasons for the introduction of virtual teams vary but managers often mention the possibility of crossing distances and time zones in order to get closer to new markets and customers. Another driver for the establishment of virtual teams is the opportunity for gathering together rare expertise rather than solely rel...

Abstract This paper presents and discusses a number of criteria for the design and implementation of electronic market servers. It first briefly reviews a number of electronic markets currently operational over the internet then offers some ideas on the types of new markets that may become successful. It then presents the design criteria for market servers, necessary to support these virtual ma...

The novel idea of setting up Internet-based virtual markets, information markets, to aggregate dispersed information and predict outcomes of uncertain future events has empirically found its way into many domains. But the theoretical examination of information markets has lagged relative to their implementation and use. This paper proposes a simple theoretical model of information markets to un...

In this paper we propose a novel model for forecasting innovation success based on online virtual stock markets. In recent years, online virtual stock markets have been increasingly used as an economic and efficient information gathering tool for the online community. It has been used to forecast events ranging from presidential elections to sporting events and applied by major corporations suc...

Forecasting markets are a promising approach for predicting future events. The basic idea of a forecasting market is to trade virtual stocks whose final value is tied to a particular future event. The market prices can then be interpreted as predictions of the probability of those future events. The results of recent studies on forecasting markets are encouraging. However, various design issues...

Along with the success of the massively multiplayer role-playing gaming industry in Asia, online gaming-related crimes have grown at an amazing rate. Most of the criminal cases are related to virtual properties since markets have developed for the virtual properties giving them real world values. There has been little research and resulting technologies for MMRPG virtual property protection. In...

Virtual bids were introduced in U.S. wholesale electricity markets to exploit arbitrage opportunities arising from expected price differences between day-ahead and real-time energy markets. These financial instruments have interactions with other elements of the electricity market design. For instance, virtual bids could affect day-ahead market-clearing prices so as to enhance the value of Fina...