Designing Smart Markets.

Author List: Bichler, Martin; Gupta, Alok; Ketter, Wolfgang;

Information Systems Research, 2010, Volume 21, Issue 4, Page 688-699.

Electronic markets have been a core topic of information systems (IS) research for last three decades. We focus on a more recent phenomenon: smart markets. This phenomenon is starting to draw considerable interdisciplinary attention from the researchers in computer science, operations research, and economics communities. The objective of this commentary is to identify and outline fruitful research areas where IS researchers can provide valuable contributions. The idea of smart markets revolves around using theoretically supported computational tools to both understand the characteristics of complex trading environments and multiechelon markets and help human decision makers make real-time decisions in these complex environments. We outline the research opportunities for complex trading environments primarily from the perspective of design of computational tools to analyze individual market organization and provide decision support in these complex environments. In addition, we present broad research opportunities that computational platforms can provide, including implications for policy and regulatory research.

Keywords: auctions; decision support systems; design; experimentation; platforms; preferences; smart markets; software agents; trading agent competition

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#222	0.337	research researchers framework future information systems important present agenda identify areas provide understanding contributions using literature studies paper potential review
#71	0.179	distributed agents agent intelligent environments environment smart computational environmental scheduling human rule using does embodied provide trends computer-aided heterogeneous inventory
#287	0.119	design systems support development information proposed approach tools using engineering current described developing prototype flexible built architecture environment integrated designing
#30	0.104	market trading markets exchange traders trade transaction financial orders securities significant established number exchanges regulatory structures order traditional stock provides
#8	0.066	decision making decisions decision-making makers use quality improve performance managers process better results time managerial task significantly help indicate maker
#291	0.063	local global link complex view links particularly need thought number supports efforts difficult previously linked achieving simple poor individual rise