Multi-Criteria Markets: An Exploratory Study of Market Process Design

Authors:
Alea M. Fairchild;Philip O'reilly;Patrick Finnegan;Pieter M. Ribbers
Affiliations:
-;-;-;-
Venue:
Electronic Markets
Year:
2007

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Abstract

This paper explores market process design for multi-criteria markets using the electronic market process design work of Ribbers et al. (2002) and Kambil and van Heck (1998). The study utilizes a case study of a market intermediary in the utilities sector to examine how multi-criteria markets differ from price-only alternatives. The study reveals significant differences in the role of the intermediary in the operation of multi-criteria markets, as well as marked differences in market process design in the areas of authentication, product representation and communications/computing. We conclude that these differences represent a fundamental shift in B2B procurement relationships from those described by Kaplan and Sawhney (2000) towards strategic sourcing.