Electronic markets and electronic hierarchies
Communications of the ACM
Do electronic marketplaces lower the price of goods?
Communications of the ACM
Creating a custom mass-production channel on the Internet
Communications of the ACM
The emerging role of electronic marketplaces on the Internet
Communications of the ACM
Characteristics of electronic markets
Decision Support Systems - Special issue on electronic commerce
Building consumer trust online
Communications of the ACM
AGENTS '00 Proceedings of the fourth international conference on Autonomous agents
Interface agents: caveat mercator in electronic commerce
Decision Support Systems
Communications of the ACM
The Economics of Electronic Commerce
The Economics of Electronic Commerce
Computational Economics - Special issue: Evolutionary processes in economics
A Markov Model of Production, Trade, and Money: Theory and Artificial Life Simulation
Computational & Mathematical Organization Theory
Consumer trust in an Internet store
Information Technology and Management
Road Ahead
Building trust in online auction markets through an economic incentive mechanism
Decision Support Systems
Market process reengineering through electronic market systems: opportunities and challenges
Journal of Management Information Systems - Special issue: Information technology and its organizational impact
Should We Wait? Network Externalities, Compatibility, and Electronic Billing Adoption
Journal of Management Information Systems
Individual Trust in Online Firms: Scale Development and Initial Test
Journal of Management Information Systems
Exploring relationships between products characteristics and B2C interaction in electronic commerce
Journal of Theoretical and Applied Electronic Commerce Research
A proposed data mining approach for internet auction fraud detection
PAISI'07 Proceedings of the 2007 Pacific Asia conference on Intelligence and security informatics
Internet Auction Fraud Detection Using Social Network Analysis and Classification Tree Approaches
International Journal of Electronic Commerce
How do competitive environments moderate CRM value?
Decision Support Systems
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The capabilities of network technologies have facilitated the growth of electronic commerce. Major issues--notably, security and product quality uncer-tainty--still pose serious challenges to the further adoption of electronic commerce. Traditional market transactions have a long history and well-understood protections for buyers and sellers. In the electronic markets, formal and informal mechanisms such as trusted third parties (TTP) have emerged trying to ensure safe transactions. In this paper, we investigate under what conditions people will stick to the traditional market and face-to-face transactions, and under what conditions electronic transactions will be the convention of the future. Of particular interest is the role of TTPs in facilitating online transactions. Using evolutionary game theory, we present an analytical model of buyer and seller choices and examine which patterns of transactions can be sustained. We further study how the traders' adaptive behavior may influence the outcome of the market evolution. Through this analysis, we demonstrate that the market will show divergence: for commodity products, electronic transactions through TTPs will get established as the convention for market transactions when traders use historical information about other traders' past strategies. For "look and feel" products, the market evolution depends on the initial distribution of the transaction strategies in the population.