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This article reviews the growing body of research on electronic commerce from the perspective of economic analysis. It begins by constructing a new framework for understanding electronic commerce research, then identifies the range of applicable theory and current research in the context of the new conceptual model. It goes on to assess the state-of-the-art(More)
Technology adoption often occurs sequentially, so that later potential adopters can see the decisions (adopt or not adopt) of earlier potential adopters. In this paper we review the literature on observational learning, in which people use information gained by observing the behavior of others to inform their decisions, and note that little prior research(More)
This article reviews developments in the growing body of research on electronic commerce from the perspective of economic analysis. Our goals are fourfold. First, we construct a new framework for understanding electronic commerce research. Second, we identify the range of applicable theory and current research in the context of the new conceptual model.(More)
Proprietary standardization seeks to increase a firm's market share (pie sharing). Open standardization seeks to increase the size of the market (pie expansion). In order to determine which of these creates more value for a firm involved in standardization , this paper investigates the market value of standardization initiatives, using an event study based(More)
7 8 Abstract 9 This work proposes that information cascade theory can help to explain the formation of the Internet bubble. We propose that the 10 bubble existed because a lack of good information about the potential value of electronic commerce led investors to rely on other inves-11 tors' private valuations of electronic commerce. We use the event study(More)
Let [(R ec , R uc), (R ev , R uv)] represent an ownership structure where R ec represents the client's excludability rights, R uc represents the client's usability rights, R ev represents the vendor's excludability rights, and R uv represents the vendor's usability rights. Because of the diagonal symmetry only the bottom left diagonal will be discussed in(More)
In this work, we attempt to show how operations researchers can effectively manage the production costs of computing services. The thesis of this paper is that an outsourcing firm, by virtue of the fact that it manages the IT function for multiple firms, is privileged to information not available to the focal firm. We derive the conditions under which this(More)