Designing smart markets

Martin Bichler, Alok Gupta, Wolfgang Ketter

Research output: Contribution to journalArticle

85 Citations (Scopus)

Abstract

Electronic markets have been a core topic of information systems (IS) research for last three decades. We focus on a more recent phenomenon: smart markets. This phenomenon is starting to draw considerable interdisciplinary attention from the researchers in computer science, operations research, and economics communities. The objective of this commentary is to identify and outline fruitful research areas where IS researchers can provide valuable contributions. The idea of smart markets revolves around using theoretically supported computational tools to both understand the characteristics of complex trading environments and multiechelon markets and help human decision makers make real-time decisions in these complex environments. We outline the research opportunities for complex trading environments primarily from the perspective of design of computational tools to analyze individual market organization and provide decision support in these complex environments. In addition, we present broad research opportunities that computational platforms can provide, including implications for policy and regulatory research.

Original languageEnglish (US)
Pages (from-to)688-699
Number of pages12
JournalInformation Systems Research
Volume21
Issue number4
DOIs
StatePublished - Jan 1 2010

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market
information system
market organization
electronic market
Information systems
operations research
systems research
Operations research
computer science
decision maker
Computer science
Economics
community
economics
time
Information systems research
Electronic markets
Decision maker
Multi-echelon
Decision support

Keywords

  • Auctions
  • Decision support systems
  • Design
  • Experimentation
  • Platforms
  • Preferences
  • Smart markets
  • Software agents
  • Trading agent competition

Cite this

Designing smart markets. / Bichler, Martin; Gupta, Alok; Ketter, Wolfgang.

In: Information Systems Research, Vol. 21, No. 4, 01.01.2010, p. 688-699.

Research output: Contribution to journalArticle

Bichler, Martin ; Gupta, Alok ; Ketter, Wolfgang. / Designing smart markets. In: Information Systems Research. 2010 ; Vol. 21, No. 4. pp. 688-699.
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