On the Specification of the Business and Economic Foundations of Electronic Commerce
Using information modeling introduced in [KR94, K99], a specification framework and rationale of the business and economic foundations of E-Commerce is provided. A bifurcated approach to E-Commerce is undertaken. E-Commerce is partitioned into two subtypes: E-Macrocommerce (i.e., business-to-business electronic transactions) discussed in Part 1 and E-Microcommerce (i.e., business-to-consumer electronic transactions) discussed in Part 2. Our framework is founded on organizational theory, systems theory, classical economics, game theory, and business strategy. Further work is necessary in establishing the business and economic foundations of E-Commerce, but a core foundation employing business specifications, contracts, and game theory is established.
KeywordsE-Commerce Information Modeling Organizational Theory Systems Theory Classical Economics Game Theory Business Strategy Business Contracts Uniform Commercial Code Prisoner’s Dilemma War of Attrition
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