Airline reservations systems: lessons from history
MIS Quarterly
The logic of electronic markets
Harvard Business Review
A strategic analysis of electronic marketplaces
MIS Quarterly - Special issue on the strategic use of information systems
Electronic markets and electronic hierarchies
Communications of the ACM
Do electronic marketplaces lower the price of goods?
Communications of the ACM
The emerging role of electronic marketplaces on the Internet
Communications of the ACM
Reducing buyer search costs: implications for electronic marketplaces
Management Science - Special issue: Frontier research on information systems and economics
Intermediation and electronic markets: aggregation and pricing in internet commerce
Intermediation and electronic markets: aggregation and pricing in internet commerce
Frictionless Commerce? A Comparison of Internet and Conventional Retailers
Management Science
The role of dynamic capabilities in e-business transformation
European Journal of Information Systems - Managing e-business transformation
User involvement and user satisfaction with information-seeking activity
European Journal of Information Systems - Special section: PACIS 2004
Buyers' Choice of Online Search Strategy and Its Managerial Implications
Journal of Management Information Systems
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Electronic markets are frequently touted to be highly efficient. The prevailing hypothesis is that very low information search costs will enable buyers to expand their product information search and comparison beyond what is feasible in conventional markets. The aim of this paper is to evaluate the relative efficiency of product search in current travel service markets. We report the results of our analysis based on an experimental setting with 92 subjects. Our conclusions tend to disagree with previous predictions about the efficiency of electronic markets. The electronic markets observed were found to be at best as efficient as their conventional counterparts. Our results suggest that poor availability of product information and a lack of systems integration severely limit the efficiency of consumer search in present electronic markets.