In this chapter, the concept of the virtual enterprise is developed. A motivating case at the beginning points to dilemma that acting manufacturing managers are facing. For the conditions of unpredictable change and dynamic markets the concept of the virtual enterprise is characterized, first, as a business model to create business value, second, as an operational model to co-operate temporaril...

Automated market makers are algorithmic agents that provide liquidity in electronic markets. We construct two new automated market makers that each solve an open problem of theoretical and practical interest. First, we formulate a market maker that has bounded loss over separable measure spaces. This opens up an exciting new set of domains for prediction markets, including markets on locations ...

Available online 5 June 2013

The significance of the market structure, in particular the role of the market maker, on the overall success of a marketplace is still an unresolved issue. This paper examines market structures with a focus on the role of the market maker to identify the implications for participants of the various structures and mechanisms employed in electronic markets. Market maker strategies are classified ...

This paper describes research supporting the development of a conceptual model for understanding the sources of business value of Business-to-Business (B2B) Electronic Markets. Based on six case studies and an analysis of current literature, Aggregation, Matching, and Integration emerged as the three key sources of business value. The framework provides a structured and systematic approach for ...