Electronic Markets

, Volume 21, Issue 1, pp 5–17 | Cite as

20 Years of Research in Electronic Markets and Networked Business: An Interview with Thomas Malone

  • Rolf T. Wigand
Special Theme - Invited Paper

Introduction and Overview

Malone, Thomas W., Yates, JoAnne, and Benjamin, Robert I. Electronic Markets and Electronic Hierarchies. Communications of the ACM, 1987, 30 (6), pp. 484-497.

This now classic article on the Electronic Market Hypothesis (EMH) has had considerable impact on our field. In essence the authors assert that:

By reducing the costs of coordination, information technology will lead to an overall shift toward proportionately more use of markets—rather than hierarchies—to coordinate economic activity.

According to Google Scholar, the article has been cited (as of January 9, 2011) 2,447 times in the literature. “Electronic Markets and Electronic Hierarchies” is a seminal paper and has become a classic since it first was published 23 years ago in the Communications of the ACM in 1987.

The article triggered many new directions, research streams and researches in several areas. They include:
  • Impacts on markets and organizations

  • Adoption in eMarkets and interorganizational...


Organizational Form Collective Intelligence Electronic Market Efficient Market Hypothesis Picot 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Institute of Information Management, University of St. Gallen 2011

Authors and Affiliations

  1. 1.Departments of Information Science and Management, EIT 548University of Arkansas at Little RockLittle RockUSA

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