The Future of E-Markets

Dynamic pricing and on-line auctions are emerging as the preferred models for e-business. This multi-disciplinary 2001 book presents a framework of negotiation protocols for electronic markets. It was the first book to combine economics with computer science and the first to describe multidimensional auction mechanisms - i.e. automated negotiations on multiple attributes and/or multiple units of a product. In addition it summarises the introductory economics needed to understand electronic markets, and surveys the literature on negotiation and auction theory. Case studies include the trading of financial derivatives. For use in the design, implementation and upgrade of electronic markets, for researchers in: economics, information systems and operations management, computer science and all students of the e-commerce phenomenon.

1. Electronic commerce and electronic marketplaces; 2. Internet marketplaces - a technical perspective; 3. The difficulty of setting prices; 4. Methods for the analysis and design of electronic markets; 5. Automated negotiations - a survey of state-of-the-art practices; 6. Experimental analysis of multi-attribute auctions; 7. Economic models of multi-attribute auctions; 8. Conclusions and perspectives; Appendix: utility theory and decision analysis; Techniques; Basic ideas of utility theory; Multi-objective decision analysis; References; Index.