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The Economics of E-Commerce and Networking Decisions

Applications and Extensions of Inframarginal Analysis

This volume is a collection of selected papers using the framework of inframarginal analysis of the division of labour held at Monash University on 6-7 July 2001. This framework, pioneered mainly by Professor Xiaokai Yang, (with joint researches involving all the three editors and many of the authors), has been recommended by Professor James Buchanan (Nobel Laureate in Economics) as the most important analysis in economics in the world today.

The ICBC is projected to increase its e-banking transaction volume from 1.9 trillion yuan (US$229 billion) in 2000 to 3 trillion yuan (US$361 billion) this year, making up 5 per cent of its traditional business volume.42 China's major ...

The Economics of E-Commerce

A Strategic Guide to Understanding and Designing the Online Marketplace

Despite the recent misfortunes of many dotcoms, e-commerce will have major and lasting effects on economic activity. But the rise and fall in the valuations of the first wave of e-commerce companies show that vague promises of distant profits are insufficient. Only business models based on sound economic propositions will survive. This book provides professionals, investors, and MBA students the tools they need to evaluate the wide range of actual and potential e-commerce businesses at the microeconomic level. It demonstrates how these tools can be used to assess a variety of existing applications. Advances in web-based technology--particularly automation and delegation technologies such as smart agents, shopping bots, and bidding elves--support the further growth of e-commerce. In addition to enabling consumers to conduct automated comparisons and sellers to access visitors' background information in real time, such software programs can make decisions for individuals, negotiate with other programs, and participate in online markets. Much of e-commerce's economic value arises from this kind of automation, which not only reduces operating costs but adds value by generating new market interactions. This text teaches how to analyze the added value of such applications, considering consumer behavior, pricing strategies, incentives, and other critical factors. It discusses added value in several e-commerce arenas: online shopping, business-to-business e-commerce, application design, online negotiation (one-to-one trading), online auctions (one-to-many trading), and many-to-many electronic exchanges. Combining insights from several years of microeconomic research as well as from game theory and computer science, it stresses the importance of economic engineering in application design as well as the need for business models to take into account the "total game." As the only serious treatment of the microeconomics of e-commerce, this book should be read by anyone seeking e-commerce solutions or planning to work in the field.

This book provides professionals, investors, and MBA students the tools they need to evaluate the wide range of actual and potential e-commerce businesses at the microeconomic level.