This article provides an overview of Internet-based electronic markets as a mechanism to support the procurement of non-production related items (indirect procurement). We describe the general concept and provide a number of representative examples. We also put the approaches in perspective with earlier research on electronic markets and intermediaries, point out similarities with other concept...

Recent research on the usage of electronic markets in Digital government has mostly focused on the government’s Executive branch. The paper discusses three conceptual concerns that obstruct the broader application of electronic market mechanisms to the Legislative branch of the government instead. A systematic examination of these concerns shows that most of them can be addressed with little ef...

‘Old economy’ companies are increasingly setting up marketplaces for procurement of supplies, either alone or as part of a consortium of competitors within an industry. In this paper we develop a framework for governance structures of electronic markets and contrast different structures by using a case study in the automotive industry. Focus is General Motors’ decision to join the industry mark...

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...

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...

This paper uses high frequency exchange rate data for a group of twelve Latin American countries to analyze volatility comovements. Particular interest is posed on understanding the existence of a common volatility process during the 1994–2005 period. The analysis relies on bivariate common factor models. We test for second-order common features using the common ARCH-feature methodology develop...

A structural vector autoregressive (SVAR) model of real equity prices in Australia is specified to contain common shocks in international equity markets and domestic shocks in Australian financial and goods markets. Common shocks are identified through the long-run comovements of international equity markets, resulting in the model being characterized as having more shocks than variables. The e...