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Retrieved November 10, 2004, from http://www.mngt.waikato.ac.nz/depts/mnss/ FRXUVHVVFP¿YHZKDWLVVPKWP 2 Ha, L. (2005). A quantitative model for evaluating e-business strategy.Dissertation, University of Maryland, Baltimore County. The major research presented in this article is based on this dissertation. 3 SAS. SAS software help documents, SAS Web site (http://www.sas.com) and its technical support are employed during the research. SAS, SAS/AF, and SAS/ETS are the properties of SAS, Institute Inc. 4 SAS Users Group International Confer- ence. Retrieved December 12, 2003, from http://www.lexjansen.com/sugi/index.htm. Some papers from this site are referred to during the research. This work was previously published in International Journal of E-Business Research, Vol. 2, Issue 2, edited by I. Lee, pp. 38-53, copyright 2006 by IGI Publishing (an imprint of IGI Global). 725 Copyright © 2009, IGI Global, distributing in print or electronic forms without written permission of IGI Global is prohibited. Chapter 3.4 E-Business Technologies in E-Market Literature Nikos Manouselis Agricultural University of Athens, Greece ABSTRACT E-business processes are implemented through existing, as well as novel technologies. This book FKDSWHUIRFXVHVRQWKH¿HOGRIHOHFWURQLFPDUNHWV (e-markets), and studies the technologies and solu- WLRQVWKDWDUHDSSOLHGDQGSURSRVHGLQWKLV¿HOG,Q particular, the chapter reviews e-market literature in order to identify which are the technological WUHQGVWKDWKDYHDSSHDUHGLQWKHHPDUNHWV¿HOG during the last decade. A conceptual model that DOORZVIRUWKHFODVVL¿FDWLRQRIHPDUNHWUHVHDUFK literature according to a number of technical top- LFVLV¿UVWLQWURGXFHG7KHQHPDUNHWOLWHUDWXUH is reviewed, and the technologies that seem to be DWWUDFWLQJPRUHUHVHDUFKDWWHQWLRQDUHLGHQWL¿HG Representative contributions are discussed, and directions for future research are indicated. The overall aim of this chapter is to provide a blueprint of the literature related to e-business technologies for e-markets. INTRODUCTION According to the 2005 report of the United Na- tions Conference on Trade and Development (UNCTAD, 2005), e-commerce continues to grow in all sectors. In the United States (the largest e-commerce market), e-commerce is still most prominent in manufacturing and wholesale trade, but on the other hand, growth rates are highest in retail trade (B2C) and services. In the United States, the largest global e-commerce market, e- commerce sales have continuously grown during WKHODVW\HDUV:LWKDJURZWKUDWHVLJQL¿- cantly higher than for total retail trade (4.3%), the share of e-commerce in total retail trade is also JURZLQJ 7KH ODWHVW DYDLODEOH ¿JXUHV LQGLFDWH that its share has more than doubled (UNCTAD, 2005). Eurostat data (http://epp.eurostat.cec. eu.int/) show that for the European Union (EU), e-commerce sales over the Internet increased from 0.9% in 2002 to 2.2% in 2004. Compilations by the OECD suggest that online sales represent a small but growing share of total sales in most EU member countries, and that there is solid growth 726 E-Business Technologies in E-Market Literature in B2C e-commerce (OECD, 2004). As a result, numerous electronic markets (e- markets) are continuously being deployed. For instance, the European Observatory of e-Markets eMarketServices (http://www.emarketservices. com) has listed, until January 2006, about 905 e- markets from various business sectors. E-markets aim to facilitate information exchange and support activities related to business process management and transactions. They are characterized by a IULFWLRQOHVVDQGYHU\ORZFRVWÀRZRILQIRUPD- tion between buyers and sellers. Moreover, they allow sellers to reach a wider consumer base, and buyers to have access to a large number of sellers. E-markets are therefore expected to cre- ate economic value for buyers, sellers, market intermediaries, and for society as a whole (Bakos, 1998; Grieger, 2003). In e-markets, proposed technologies and so- lutions vary from simple online catalogues that provide more information about products to in- terested customers, to sophisticated collaborative project management and supply-chain-manage- ment environments (Dai & Kauffman, 2002b). They address various technical topics, such as architectures, interoperability, services, protocols, data management, and networking. Nevertheless, there has not been, so far, a comprehensive over- view of the technologies proposed, the dimensions addressed, or the solutions tested. This chapter aims to cover this aspect by providing a blueprint of research literature and e-business technologies for e-markets. An attempt to review and classify published UHVHDUFKLQ WKLV ¿HOGFDQEHDQLQWHUHVWLQJDQG useful contribution to e-business researchers, managers, and practitioners/implementers. It can answer questions such as the following: which WHFKQLFDOWRSLFVDWWUDFWPRUHDWWHQWLRQLQWKH¿HOG of e-markets? What are the proposed technologies and solutions? What are possible future direc- tions of their development? Within this context, the aim of this chapter is to provide an overview RIUHFHQWWHFKQRORJLFDOFRQWULEXWLRQVLQWKH¿HOG RIHPDUNHWV0RUHVSHFL¿FDOO\LWUHSRUWVUHVXOWV from a study of e-market research that has been SXEOLVKHG GXULQJ WKH SDVW GHFDGH LQ VFLHQWL¿F journals. The results provide interesting insight about the technologies for e-business processes in e-market environments, and outline implications for practice and research. The chapter is structured as follows. The ³%DFNJURXQG´VHFWLRQSURYLGHVVRPHEDFNJURXQG on e-markets, as well as an overview of relevant VWXGLHV³0HWKRGRORJ\´SUHVHQWVWKHPHWKRGRORJ\ followed in order to identify and classify e-mar- NHWOLWHUDWXUHDURXQGWHFKQLFDOWRSLFV³5HVXOWV´ SUHVHQWVDQGGLVFXVVHVWKHUHVXOWVRIWKHFODVVL¿- cation and reviews representative contributions. )LQDOO\³&RQFOXVLRQ´SURYLGHVWKHFRQFOXVLRQV of this study and outlines some implications for related research. BACKGROUND E-Markets ,Q WKH LQÀXHQWLDO SDSHU RI 0DORQH <DWHV DQG %HQMDPLQHPDUNHWVKDYHEHHQGH¿QHG according to the traditional market paradigm: VWUXFWXUHVWKDWFRRUGLQDWHWKHÀRZRIPDWHULDOV or services, through supply and demand forces, as well as through external transactions between GLIIHUHQW LQGLYLGXDOV DQG ¿UPV 0DUNHW IRUFHV determine the design, price, quantity, and target delivery schedule for a given product, which will serve as input into another process. The buyer of the good or service compares its many possible sources, and makes a choice based on the best combination of these attributes. Another prevail- LQJ GH¿QLWLRQZKLFKKDVDPRUHWHFKQRORJLFDO focus, was given by Bakos (1991): an electronic marketplace (or electronic market system) is an interorganizational information system that allows the participating buyers and sellers to exchange information about prices and product RIIHULQJV$V%DNRVQRWHVWKLVGH¿QLWLRQRI 727 E-Business Technologies in E-Market Literature e-markets has a narrower, system-oriented focus LQFRPSDULVRQWRWKHPRUHJHQHUDOGH¿QLWLRQRI Malone et al. (1987), which refers to an e-market as a governance mechanism. As Internet became more and more widespread, providing a cheap and easy way for market participants to communicate DQGH[FKDQJHLQIRUPDWLRQWKHWHUP³HPDUNHWV´ tended to concern the systems described by Bakos (1991). Thus, nowadays, an e-market can be con- sidered as an information system that intends to provide market participants with online services that will facilitate information exchange between them, with the purpose of facilitating their busi- ness transactions. Thus, e-markets can support one or more phases of a transaction process, starting from LQIRUPDWLRQ¿QGLQJDQGHQGLQJZLWKDIWHUVDOHV service support (Strader & Shaw, 1997). Differ- HQWW\SHVRIHPDUNHWVKDYHEHHQLGHQWL¿HGLQWKH literature. First of all, depending on the nature of transactions they support, e-markets can be clas- VL¿HGDFFRUGLQJWRWKHFRPELQDWLRQRISDUWLHVWKH\ involve. Therefore, most of the existing e-markets FD QE HFO DVVL ¿HG DVbusiness-to-consumer (B2C), business-to-business (B2B), and consumer-to- consumer (C2C) ones. Other, less popular, types also exist, such as government-to-consumer (G2C) and government-to-business (G2B) e-markets (Turban,, King, Lee, & Viehland., 2004). Depending on their target audience, e-markets can be distinguished as buyer-oriented, seller-ori- ented, or neutral (Grieger, 2003). Buyer-oriented e-markets mainly aggregate buyers, allowing them to also aggregate their expenditure, reduce administration costs, increase visibility, and fa- cilitate global sourcing. Seller-oriented e-markets concentrate on bringing multiple sellers together into a central catalogue and product information repository, in order to allow them to achieve higher visibility and conduct trade with as many buyers as possible. Moreover, e-markets can be either characterized as vertical or horizontal (Grieger, 2003). Horizontal e-markets cover the needs of a wider audience, offering a broad range of products or services that are related with this audience. On the other hand, vertical e-markets offer a class of products or services that aim to one or more particular industry sectors (Wellman, 2004). E- markets can also be distinguished as open/public and closed/private ones (Grieger, 2003; Wellman, 6WDQRHYVND6ODEHYDLGHQWL¿HVDV single or homogeneous e-markets, those that are developed by a single enterprise in order to support online distribution of the enterprises’ products. Similarly, multiple or heterogeneous e-markets are those where multiple enterprises participate. 2WKHUFODVVL¿FDWLRQVKDYHDOVREHHQLQWURGXFHG in the literature. Grieger (2003) presents some of WKHPHPDUNHWVZLWK¿[HGYVYDULDEOHSULFLQJ mechanisms; e-markets that support information exchange, negotiation, or settlement of after-sales respectively; e-markets that use an aggregation vs. a matching market mechanism; e-markets that support different business objectives (manufactur- ing vs. operating inputs, and spot vs. systematic sourcing). Literature Reviews and Case Study Surveys 2QHRIWKH¿UVWSDSHUVUHYLHZLQJWKHHPDUNHW ¿HOGKDVEHHQWKHRQHIURP%DNRV,WSHU- formed a strategic analysis of e-markets based on economic models of search, and reviewed some characteristic applications that adopted principles from traditional markets theory, and implemented them in an electronic way. This analysis particularly focused on the services that its selected case studies offered, but did not provide much information about the technologies used in each case. In two other studies, Strader and Shaw (1997, 1999) analyzed the impact of e-markets from a transaction cost perspective, and referred to a number of e-market examples. A particular technology-related topic that they LGHQWL¿HGLVWKHXVHRIZLGHO\DFFHSWHGVWDQGDUGV for the description of products and services in an electronic format, so that interoperability between 728 E-Business Technologies in E-Market Literature different electronic markets can be accomplished. In a similar manner, an overview of the e-mar- kets’ area was presented by Segev, Gebauer, and )DHUEHU,QWKLVVWXG\¿YHUHSUHVHQWDWLYH examples of Internet-based e-markets were reviewed, and common elements and features were outlined. They discussed different policies for admitting new participants, various revenue models, quality of the product catalog, as well as services to support a transaction process. Again, WKHEDFNRI¿FHWHFKQRORJLHVIRUWKHVHIHDWXUHVDUH not discussed. In the study of Timmers (1998), a review of e-market business models was provided. The author described characteristic business models and referred to representative e-market examples implementing them, without analyzing the supporting technologies. The paper of Smith, Bailey, and Brynjolfs- VRQKDVEHHQWRRXUNQRZOHGJHWKH¿UVW important overview and assessment of the area of online markets. It mainly addressed ways to PHDVXUH HI¿FLHQF\ LQ RQOLQH PDUNHWV IRFXVHG on potential sources of price dispersion, and introduced important developments to watch in e-markets. In this review, technology-related topics were not addressed. A very comprehensive literature review in the area of e-markets is the one of Grieger (2003) that focused on the supply chain dimension of e-markets. In this study, the DXWKRUH[DPLQHGVHYHUDOHPDUNHWVDQGFODVVL¿HG them according to several dimensions. Technical GLPHQVLRQVZHUHQRWXVHGIRUWKLVFODVVL¿FDWLRQ Furthermore, Anandalingam, Day, and Raghavan (2005) presented an introductory survey of es- sential literature on e-markets. Although several mechanisms and settings have been reviewed, the authors’ focus seemed to be more on auc- tions. Therefore, aspects such as mechanisms to facilitate multi-item auctions or the winner de- termination auction have been described. Finally, technical topics that concern e-markets have been partially covered in the context of the larger e- commerce literature review from Kauffman and Walden (2001). This study analyzed e-commerce literature on several levels, including a technology one. It addressed several technical topics, such as agent technologies, network infrastructures, and structural standards. There are also publications that focus on VSHFL¿FVHJPHQWVRULQGXVWULHVRIHPDUNHWV7KH VWXG\E\.ROOPDQQKDVIRFXVHGVSHFL¿- cally on the sector of German-language online markets for used cars. It provided a business- oriented evaluation tool for e-markets in the form of a competition analysis matrix, which did not include any technological characteristics. Rosson and Davis (2004) focus on Canadian e-markets, presenting a survey of 13 existing case studies. They discuss characteristics such as the e-market scope (vertical vs. horizontal) and type (sell-side, buy-side, etc.), but do not examine the technolo- gies supporting the covered e-markets. In Dai and Kauffman (2002b), an analytic framework is used to study and classify business-to-business (B2B) e-markets. In their study, B2B e-markets are also analyzed from a technological perspec- tive, according to the type of e-market functions their services support. Moreover, the role of some B2B e-markets as technology adapters is described, offering some insight to the technolo- gies they offer to e-market participants that allow integration of e-commerce systems, provision of technological standards, and implementation of outsourced services. Holzmueller and Schluechter (2002) also focus on B2B marketplaces, for the country of Germany. They examine the future of German B2B e-markets using a Delphi survey from e-market experts, and they identify how these experts weight the importance of various services that a B2B e-market may offer (e.g., e-mail, EDI, online communication, search pos- sibilities, etc.). In the study of Lenz, Zimmermann, and Heitmann (2002), a survey of 248 European B2B e-markets is carried out. They also examine various e-market services, classifying them into wider categories (such as collaboration services, ¿QDQFLDOVHUYLFHVVKRSERWVQHJRWLDWLRQHWFDQG 729 E-Business Technologies in E-Market Literature examining their current status of development in the European e-markets. In general, previous studies either focus on the analysis of the literature, or provide a survey of e- market case studies. Only one study (Holzmueller & Schluechter, 2002) was based on the opinion of e-market experts. This difference in employed PHWKRGVKDVEHHQDOVRUHÀHFWHGLQWKHLUUHVXOWV the studies focusing more on proposed technolo- gies for e-markets have been the ones based on surveys of existing case studies. On the contrary, e-market literature reviews generally adopted an economic or business perspective, neglecting the technology aspects. To our knowledge, there has not been, so far, an overview of e-market literature from the perspective of technology. In our opinion this is an important shortcoming, since new and innovative technologies are usu- DOO\¿UVWSURSRVHGDQGWHVWHGLQUHOHYDQWUHVHDUFK studies. Therefore, academic literature can be a valuable source for identifying which technolo- gies are proposed, which dimensions have been addressed, or which solutions have been tested in e-markets. We therefore decided to examine e-market literature of the last decade, in order to identify the most important technological trends LQWKH¿HOGRIHPDUNHWV METHODOLOGY In order to classify e-market research papers that deal with technical topics, we reviewed rel- HYDQWFODVVL¿FDWLRQIUDPHZRUNV)LUVWRIDOOZH UHYLHZHG HFRPPHUFH UHVHDUFK FODVVL¿FDWLRQV such as the ones of Kauffman and Walden (2001), Urbaczewski, Jessup, and Wheeler (2002), Ngai and Wat (2002), and Turban et al. (2004). We also considered the Information Systems research FODVVL¿FDWLRQVRI/LDQJDQG&KHQDQG2U- likowski and Iacono (2001). Finally, we examined the reference framework that has been engaged by the e-Commerce Working Group of the Eu- ropean Standardization Committee CEN/ISSS to analyze and categorize e-commerce models and architectures (CEN, 2001). It has been concluded that the framework proposed by Urbaczewski et al. (2002) covers the generic e-market topics with the organizational, economic, technical, and other topic areas. In this light, these topic areas are used to specify our framework. The topics of each area have been ap- propriately elaborated to cover the characteristics DQGSDUWLFXODULWLHVRIWKHHPDUNHWUHVHDUFK¿HOG This process led to the development of an overall FODVVL¿FDWLRQIUDPHZRUNIRUHPDUNHWUHVHDUFK which is presented in Figure 1 and described in detail elsewhere (Manouselis, 2005). The focus of this chapter is on technical dimensions, therefore only the topics relevant with technical research have been selected from the framework. These WHFKQLFDOWRSLFVKDYHEHHQLGHQWL¿HGLQUHODWHG FODVVL¿FDWLRQIUDPHZRUNVDQGZHUHDSSURSULDWHO\ UH¿ QHGDI WHUW KHH PDUNHWOLW HUDW X UHUHYLHZ7DEOH 1 further describes the topics in the technical research area. The proposed framework is used for classify- ing the papers of an e-market literature review. The review is based on a study of publications in VFLHQWL¿FMRXUQDOVZLWKDORQJWUDGLWLRQDVZHOO DVMRXUQDOVVSHFL¿FDOO\IRFXVLQJRQHFRPPHUFH that have appeared during the late 1990s. It has been carried out by examining 18 journals that were considered as well-accepted publication outlets for e-commerce research. Year 1995 was chosen as a starting date for our review, since our study revealed that e-market papers started appearing systematically in these journals from that year and forth. The examined journals’ contents have been thoroughly reviewed in order to locate papers UHOHYDQWWRHPDUNHWV0RUHVSHFL¿FDOO\WKH SDSHUV WKDW ZHUH LQLWLDOO\ LGHQWL¿HG LQFOXGHG in their title, abstract, keywords or full text one or more related keywords such as electronic or RQOLQH ³PDUNHWV´ ³PDUNHWSODFHV´ ³DXFWLRQV´ ³H[FKDQJHV´³QHJRWLDWLRQV´ ³WUDGLQJ´³VKRS´ ³PDOO´DQGVRIRUWK0RUHWKDQSDSHUVKDYH 730 E-Business Technologies in E-Market Literature EHHQ LQLWLDOO\FROOHFWHG LQWKLV ZD\ :HEULHÀ\ examined each one of these papers in order to ¿OWHURXWWKRVHWKDWZHUHQRWGLUHFWO\UHOHYDQWWR WKH ¿HOG RI HPDUNHWV RU ZHUH FRQVLGHUHG WRR generic for the scope of our study. Finally, 248 SDSHUVZHUHLGHQWL¿HGDVDSSURSULDWH Figure 2 illustrates the journals covered in this study, ranked according to the number of LGHQWL¿HG HPDUNHW SDSHUV 7KH MRXUQDO ZLWK the highest number of e-market papers is the Electronic Markets journal (50 papers). This was expected, since this journal focuses particularly on e-market topics. Second is Decision Support Systems, which has published 35 e-market related SDSHUVVRIDULQFOXGLQJSDSHUV³,Q3UHVV´2WKHU journals with a high number of e-market papers are International Journal of Electronic Com- merce (27 papers), Communications of the ACM ORGANIZATIONAL RESEARCH OVERVIEW ADOPTION DIFFUSION & USE FORMS & STRUCTURES BUSINESS MODELS STRATEGY ECONOMIC RESEARCH VALUE DISTRIBUTION MECHANISM INTERMEDIARIES TRANSACTION COSTS PRICING TECHNICAL RESEARCH SERVICES ARCHITECTURES PROTOCOLS / ALGORITHMS TECHNOLOGIES INTEROPERABILITY OTHER RESEARCH SOCIAL BEHAVIORAL LEGAL METHODOLOGY EVALUATION TRUST )LJXUH$FODVVL¿FDWLRQIUDPHZRUNIRUHPDUNHWUHVHDUFK Table 1. Technical research topics Technical Research Architecture Papers dealing with architectures for e-markets, including modeling e-markets as well as designing/developing infrastructures for e-markets. Interoperability 3DSHUV WKDW VSHFL¿FDOO\ DGGUHVV WKH LQWHURSHUDELOLW\ LVVXHV RI HPDUNHWV %XVLQHVV process modeling (using a common language such as ebXML, 2005) or interoperable SURGXFWFDWDORJVDUHLVVXHVFODVVL¿HGLQWKLVFDWHJRU\ Services 3DSHUVWKDWVSHFL¿FDOO\IRFXVRQVHUYLFHVWKDWHPDUNHWVRIIHU Protocols / Algorithms Papers presenting different protocols and algorithms implementing e-market mechanisms, such as value distribution ones. Technologies Papers discussing proposed technologies for e-markets, such as the use of Web VHUYLFHVRU;0/ZLWKGDWDPDQDJHPHQWPRGHOVDQGWHFKQLTXHVXVHGVSHFL¿FDOO\LQ e-market implementation, and with the network-level implementation of e-markets. 731 E-Business Technologies in E-Market Literature (22 papers), and Electronic Commerce Research & Applications (20 papers). Since several of the specialized e-commerce journals have launched their operation after the Dot.com explosion of 1999, newer journals (such as Electronic Com- merce Research & Applications) might not have the opportunity to publish, so far, as many e-market papers as more traditional journals (such as Decision Support Systems). We further investigated this point by calculating the rate of e-market papers each journal has published per examined year. Figure 3 presents the ranking of journals according to this annual e-market pub- lication rate. Again, Electronic Markets seems to be the journal publishing the highest number of e-market papers (about 8 papers per year). We note, though, that two relatively new e-commerce journals follow: these are Electronic Commerce Research & Applications (about 7 papers per year) and Electronic Commerce Research (about 4 papers per year). Traditional journals also publish e-market research regularly. For instance, Deci- sion Support Systems and International Journal of Electronic Commerce publish about 3 e-market papers per year. It has to be noted that the coverage of our review had some limitations. In most cases, we collected all e-market papers that were published )LJXUH'LVWULEXWLRQRILGHQWL¿HGHPDUNHWSDSHUVSHUH[DPLQHGMRXUQDO Publications per Journal 1 22 4 55 6 10 10 12 14 14 17 20 22 27 35 50 0 10 20 30 40 50 60 IJEB - Int.J. of Electronic Business Information & Managemen t Communications of th e AIS EJOR – European J. of Operational Researc h MISQ Quarterl y Information Systems Research J. of Interactive Marketin g Internet Research IEEE Internet Computin g JECR – J. of Electronic Commerce Researc h IEEE Intelligent System s JCMC – J. of Computer-Mediated Communicatio n Electronic Commerce Research Electronic Commerce Research & Apps Communications of ACM IJEC - Int. J. of Electronic Commerc e Decision Support Systems EM – Electronic Markets # of papers Figure 3. Estimated annual rate of e-market papers per examined journal Publication rate per Journal 0,18 0,33 0,36 0,45 0,50 0,86 0,91 0,91 1,27 1,40 2,00 2,40 2,50 3,00 3,18 4,25 6,67 8,33 0,00 1,00 2,00 3,00 4,00 5,00 6,00 7,00 8,00 9,00 In fo r m ati o n & Ma n a g e m Com m unicat i on sof t he A EJOR – E u r o p e a n J. of Op e r a tion a lR e s MISQ Qu a r t e r l y IJE B - I nt . J. of E le ctronicB u s in J. of I nt e r a c tiv e Ma r k e ti n I nt e r n e t R ese a r c h IEE E I nt e r n e tComp u t IEE E I nt e l li g e n tSyst e JC M C– J . of Co m p u t e r - Me d i a t e d C o mm u Com m u ni ca tion s of A C JEC R – J .ofE l e c t r o n i c C om merc e R es Info r m at i o n Syst e ms Re se a IJE C- I nt . J. of E l e c t r o n i cComm De ci sio n Su p p o r tSys t e m E l e c t r o n i c C om m e r ce R es e a E l e c t r o n i cCom m e r ce Rese a r c h& A EM – E l e c t r o n i c Ma r ke #of papers 732 E-Business Technologies in E-Market Literature in the examined journals from 1995 to 2005. In two particular cases though, Electronic Markets and Information Systems Research, the review started from later years (1999 and 2002, respec- tively) since we did not have full access to the older contents of the journals. In addition, there are some high quality journals (such as Journal of Organizational Computing and Electronic Commerce and Harvard Business Review) that we did not include in this review. The main reason is that at the time of this study, we did not have access to the journals’ full contents. Therefore, we could not exhaustively search all issues for published e-market papers. Additionally, focusing on journals that published primarily e-commerce research, we did not extend our review to other publications that may have included some papers about e-markets (such as economic journals). Nev- ertheless, we consider the list of journals covered rather extensive: it includes 10 out of the 15 most appropriate journals for e-commerce research, and 8 out of the 10 journals for e-commerce research with highest quality, according to the rankings provided by Bharati and Tarasewich (2002). Al- though this review was not exhaustive, it serves as a comprehensive base for an understanding of e-market research. RESULTS ,QLWLDOO\ZHFODVVL¿HGDOOHPDUNHWSDSHUVLQ the four general topic areas that are described in )LJXUH7KHUHVXOWRIWKLVLQLWLDOFODVVL¿FDWLRQLV SUHVHQWHGLQ)LJXUH7KLV¿JXUHLQGLFDWHVWKDW the highest percentage of examined publications belongs to the Economic and the Technical areas (35% and 30% of the total respectively). Organi- zational Research also attracts important research interest, since 21% of the published papers cover this area. Finally, about 14% of e-market papers cover Other Research topics. In this chapter, we focus on the 28% of e-market papers (that is, 118 papers) that mainly focus on technical topics. Figure 5 presents the distribution of these 118 papers according to the topics in the Technical topic area. It is interesting to note that Archi- tectures (with 39% of total Technical Research papers) and Protocols/Algorithms (with 32.2%) monopolize this e-market research area. Topics VXFKDV,QWHURSHUDELOLW\ZKLFKLVLGHQWL¿HGDVD key issue from e-commerce experts, as discovered by Dai & Kauffman, 2002a) and Technologies have been slightly covered. Nevertheless, this can be due to the fact that such papers are published in journals other than the ones examined, as well as the fact that low-level technical solutions are XVXDOO\FRYHULQJDOOHFRPPHUFH¿HOGVDQGQRW e-markets in particular. Finally, e-market Ser- vices seem to be attracting an important degree of attention: about 16.1% of Technical Research papers are about Services. )LJXUHSUHVHQWVWKHFODVVL¿FDWLRQRISDSHUV covering technical topics per journal examined. The majority of the papers in Decision Support Systems (20 out of the 35 e-market papers that are published in this journal), Electronic Markets (20 out of the 50 papers), Electronic Commerce Re- search & Applications (16 out of the 20 papers), and Figure 4. Distribution of e-market papers per topic area Publications Per Topic Area Organisational 23% Economic 35% Technical 28% Others 14% 733 E-Business Technologies in E-Market Literature International Journal of Electronic Commerce (15 out of the 27 papers), are around technical topics. In the following paragraphs, we review the open issues around each technical topic, as well as the representative publications. Architecture The technical topic of architecture refers to approaches for modeling and developing of e- market architectures. In particular, it concerns the design and development of e-market models, such as conceptual models and frameworks for e-markets, models for negotiation mechanisms in e-markets, as well as metamodels for the analysis RU FODVVL¿FDWLRQ RI HPDUNHW FRPSRQHQWV $G- GLWLRQDOO\LWFRQFHUQVWKHGHVLJQVSHFL¿FDWLRQ and implementation of e-market infrastructures, such as the design of e-market applications, e- market simulators, and e-market tools (matching mechanisms, product catalogs, recommendation services, etc.). These major issues are presented in Table 2. The most important contributions and representative references are also reported. There are several studies in the e-market literature reporting contributions in the areas presented. First of all, there are contributions presenting conceptual models or frameworks that represent e-market architectural elements. Such is the work of Wang (1997), Kain et al. (1999), Figure 5. Distribution of publications per category of the technical area Publications Per Technical Area 39,0% 8,5% 4,2% 32,2% 16,1% Architecture Technologies Interoperability Protocols / Algorithms Services Publications in Technical Topic Area 1 2 6 3 2 10 2 11 17 11 7 1 13 17 15 0 2 4 6 8 10 12 14 16 18 In fo rm a ti o n & M a n a g e m e n t E u ro p e a n J o u rn a l o f O p e ra ti o n a l R e s e a rc h IE E E I n te rn e t C o m p u ti n g M a n a g e m e n t In fo rm a ti o n S y s te m s Q u a rte rl y C o m m u n ic a tio n s o f th e A IS In te rn e t R e s e a rc h J o u rn a lo f I n te ra c ti v e M a rk e tin g IE E E In te llig e n t S y s te m s J C M C C o m m u n ic a ti on s o f th e A C M D e c is io n S u p p o rt S y s te m s In te rn a ti o n a l J o u rn a l o f E le c tr o n ic C o m m e rc e In te rn a tio n a l J o u rn a l o f E le c tro n ic B u s in e s s J o u rn a l o f E le c tr o n ic C o m m e rc e R e s e a rc h In fo rm a tio n S y s te m s R e s e a rc h E le ctr o n ic C o m m e rc e R e s e a rc h E le c tro n ic M a rk e ts E le c tro n ic C o m m e rc e R e s e a rc h & A p p s . # of papers Figure 6. Publications related to the technical area, per journal . on economic models of search, and reviewed some characteristic applications that adopted principles from traditional markets theory, and implemented them in an electronic way. This analysis. UHVHDUFK FODVVL¿FDWLRQV such as the ones of Kauffman and Walden (2001), Urbaczewski, Jessup, and Wheeler (2002), Ngai and Wat (2002), and Turban et al. (2004). We also considered the Information. implementation, and with the network-level implementation of e-markets. 731 E-Business Technologies in E-Market Literature (22 papers), and Electronic Commerce Research & Applications (20