Abstract
Electronic markets have become increasingly popular alternatives to traditional market forms over the last few years. This article explains how electronic markets can be used either to create new markets or to strengthen existing markets, and provides examples of the impact alternative electronic market applications can have on firm competitiveness and market structures. The central claim of this article is that it is necessary to analyze the impact of electronic market implementation on search, price discovery, and trade settlement in order to understand the impact of the electronic marketplace on firms and markets. Two forms of electronic marketplaces-electronic brokerage and electronic auction-are examined from the perspective of fundamental economic factors that influence total transactions costs and the efficiency of alternative market structures. Social and organizational barriers to successful adoption of electronic markets are also discussed.
| Original language | English |
|---|---|
| Pages (from-to) | 127-149 |
| Number of pages | 23 |
| Journal | International Journal of Electronic Commerce |
| Volume | 1 |
| Issue number | 1 |
| DOIs | |
| Publication status | Published - 1996 Jan 1 |
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All Science Journal Classification (ASJC) codes
- Business and International Management
- Economics and Econometrics
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Impacts of the electronic marketplace on transaction cost and market structure. / Lee, Ho Geun; Clark, Theodore H.
In: International Journal of Electronic Commerce, Vol. 1, No. 1, 01.01.1996, p. 127-149.Research output: Contribution to journal › Article
TY - JOUR
T1 - Impacts of the electronic marketplace on transaction cost and market structure
AU - Lee, Ho Geun
AU - Clark, Theodore H.
PY - 1996/1/1
Y1 - 1996/1/1
N2 - Electronic markets have become increasingly popular alternatives to traditional market forms over the last few years. This article explains how electronic markets can be used either to create new markets or to strengthen existing markets, and provides examples of the impact alternative electronic market applications can have on firm competitiveness and market structures. The central claim of this article is that it is necessary to analyze the impact of electronic market implementation on search, price discovery, and trade settlement in order to understand the impact of the electronic marketplace on firms and markets. Two forms of electronic marketplaces-electronic brokerage and electronic auction-are examined from the perspective of fundamental economic factors that influence total transactions costs and the efficiency of alternative market structures. Social and organizational barriers to successful adoption of electronic markets are also discussed.
AB - Electronic markets have become increasingly popular alternatives to traditional market forms over the last few years. This article explains how electronic markets can be used either to create new markets or to strengthen existing markets, and provides examples of the impact alternative electronic market applications can have on firm competitiveness and market structures. The central claim of this article is that it is necessary to analyze the impact of electronic market implementation on search, price discovery, and trade settlement in order to understand the impact of the electronic marketplace on firms and markets. Two forms of electronic marketplaces-electronic brokerage and electronic auction-are examined from the perspective of fundamental economic factors that influence total transactions costs and the efficiency of alternative market structures. Social and organizational barriers to successful adoption of electronic markets are also discussed.
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UR - http://www.scopus.com/inward/citedby.url?scp=0000874803&partnerID=8YFLogxK
U2 - 10.1080/10864415.1996.11518279
DO - 10.1080/10864415.1996.11518279
M3 - Article
AN - SCOPUS:0000874803
VL - 1
SP - 127
EP - 149
JO - International Journal of Electronic Commerce
JF - International Journal of Electronic Commerce
SN - 1086-4415
IS - 1
ER -