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Negotiation, Auctions, and Market Engineering pp 16–43Cite as

On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model

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Part of the book series: Lecture Notes in Business Information Processing ((LNBIP,volume 2))

Abstract

An e-market system is a concrete implementation of a market institution; it embeds one or more exchange mechanisms. E-market systems are also information systems which are information and communication technologies artifacts. This work puts forward an argument that the study of e-markets must incorporate both the behavioral economics as well as the information systems perspectives. To this end the paper proposes a conceptual framework that integrates the two. This framework is used to formulate a model, which incorporates the essential features of exchange mechanisms, as well as their implementations as is artefacts. The focus of attention is on two classes of mechanisms, namely auctions and negotiations. They both may serve the same purpose and their various types have been embedded in many e-market systems.

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Authors and Affiliations

  1. InterNeg Research Centre, Concordia University, Canada

    Gregory E. Kersten, Eva Chen & Rustam Vahidov

  2. IISM, Universität Karlsruhe, Karlsruhe, Germany

    Dirk Neumann & Christof Weinhardt

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  1. Gregory E. Kersten
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  2. Eva Chen
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  3. Dirk Neumann
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  4. Rustam Vahidov
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  5. Christof Weinhardt
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Henner Gimpel Nicholas R. Jennings Gregory E. Kersten Axel Ockenfels Christof Weinhardt

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Kersten, G.E., Chen, E., Neumann, D., Vahidov, R., Weinhardt, C. (2008). On Comparison of Mechanisms of Economic and Social Exchanges: The Times Model. In: Gimpel, H., Jennings, N.R., Kersten, G.E., Ockenfels, A., Weinhardt, C. (eds) Negotiation, Auctions, and Market Engineering. Lecture Notes in Business Information Processing, vol 2. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-540-77554-6_2

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  • DOI: https://doi.org/10.1007/978-3-540-77554-6_2

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