Electronic market intermediary: Transforming technical feasibility into institutional reality

Research output: Chapter in Book/Report/Conference proceedingConference contribution

4 Citations (Scopus)

Abstract

As the advent of nearly ubiquitous information infrastructures, such as Internet, promotes the development of electronic commerce applications, new market intermediaries are emerging which bring significant changes in the economics of marketing and distribution channels by interposing themselves between suppliers and consumers in electronic marketplaces. These new market intermediaries provide IT infrastructure, such as user interface, electronic product catalogues and search mechanisms, to enable buyers and sellers to realize commercial transaction over computer networks. The central claim of this paper is that the provision of IT alone is not likely to create trustworthy electronic marketplaces, and that institutional policies and processes must be an important part of electronic intermediary services for wholesale markets. The institutional policies and processes regulate responsibilities and duties of market participants and terms of settlements, and legitimate all transactions made over computer networks, thus reducing new transaction risks involved with electronic commerce. By using an in-depth case study of AUCNET, this paper highlights the importance of the institutional policies and processes for electronic intermediary services in wholesale markets, and suggests various implications relevant to the analysis, design and implementation of successful electronic intermediaries.

Original languageEnglish
Title of host publicationInformation Systems - Internet and the Digital Economy
Editors Anon
Pages3-12
Number of pages10
DOIs
Publication statusPublished - 1997 Dec 1
EventProceedings of the 1997 30th Annual Hawaii International Conference on System Sciences. Part 1 (of 6) - Wailea, HI, USA
Duration: 1997 Jan 71997 Jan 10

Publication series

NameProceedings of the Hawaii International Conference on System Sciences
Volume4
ISSN (Print)1060-3425

Other

OtherProceedings of the 1997 30th Annual Hawaii International Conference on System Sciences. Part 1 (of 6)
CityWailea, HI, USA
Period97/1/797/1/10

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All Science Journal Classification (ASJC) codes

  • Computer Science(all)

Cite this

Lee, H. G. (1997). Electronic market intermediary: Transforming technical feasibility into institutional reality. In Anon (Ed.), Information Systems - Internet and the Digital Economy (pp. 3-12). (Proceedings of the Hawaii International Conference on System Sciences; Vol. 4). https://doi.org/10.1109/HICSS.1997.663357