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Private Electronic Market
A private electronic market (PEM) uses the Internet to connect a limited number or pre-qualified buyers or sellers in one market. PEMs are a hybrid between perfectly open markets (e.g. exchanges where there is no pre-existing relationship between buyer and seller - similar to eBay) and closed contract negotiations (such as a sealed bid tender, where there is no visibility between competitors and hence no response to competition). The core idea of PEMs is to create competition among buyers/sellers while allowing buyers/sellers to adjust all those aspects of the deal that are typically only dealt with in a negotiation. This creates a problem of "comparing apples and oranges": bids may be quite different in many dimensions and therefore cannot easily be compared. Apart from the dimension of price these could include pre-negotiated discounts (e.g. for loyalty), specific qualities, combinations of goods and services with conditional pricing, freight differentials, contract fulfillment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internet
The Internet (or internet) is the global system of interconnected computer networks that uses the Internet protocol suite (TCP/IP) to communicate between networks and devices. It is a '' network of networks'' that consists of private, public, academic, business, and government networks of local to global scope, linked by a broad array of electronic, wireless, and optical networking technologies. The Internet carries a vast range of information resources and services, such as the inter-linked hypertext documents and applications of the World Wide Web (WWW), electronic mail, telephony, and file sharing. The origins of the Internet date back to the development of packet switching and research commissioned by the United States Department of Defense in the 1960s to enable time-sharing of computers. The primary precursor network, the ARPANET, initially served as a backbone for interconnection of regional academic and military networks in the 1970s to enable resource shari ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Investor
An investor is a person who allocates financial capital with the expectation of a future return (profit) or to gain an advantage (interest). Through this allocated capital most of the time the investor purchases some species of property. Types of investments include equity, debt, securities, real estate, infrastructure, currency, commodity, token, derivatives such as put and call options, futures, forwards, etc. This definition makes no distinction between the investors in the primary and secondary markets. That is, someone who provides a business with capital and someone who buys a stock are both investors. An investor who owns stock is a shareholder. Types of investors There are two types of investors: retail investors and institutional investors. Retail investor * Individual investors (including trusts on behalf of individuals, and umbrella companies formed by two or more to pool investment funds) * Angel investors (individuals and groups) * Sweat equity investor In ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Marketplaces
An online marketplace (or online e-commerce marketplace) is a type of e-commerce website where product or service information is provided by multiple third parties. Online marketplaces are the primary type of multichannel ecommerce and can be a way to streamline the production process. In an online marketplace, consumer transactions are processed by the marketplace operator and then delivered and fulfilled by the participating retailers or wholesalers. These type of websites allow users to register and sell single items to many items for a "post-selling" fee. In general, because marketplaces aggregate products from a wide array of providers, selection is usually more wide, and availability is higher than in vendor-specific online retail stores. Since 2014 online marketplaces have become abundant. Some online marketplaces have a wide variety of general interest products that cater to almost all the needs of the consumers, others are consumer specific and cater to a particular segme ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Electronic Markets
Electronic markets (or electronic marketplaces) are information systems (IS) which are used by multiple separate organizational entities within one or among multiple tiers in economic value chains. In analogy to the market concept which can be viewed from a macroeconomic (describing relationships among actors in an economic systems, e.g. a monopoly) as well as from a microeconomic (describing different allocation mechanisms, e.g. public auctions of telephone frequencies) perspective, electronic markets denote networked forms of business with maations: First, the topology of electronic markets may be centralized or decentralized in nature. Centralized electronic markets are hubs which often provide services to their participants. Decentralized settings involve sequential relationships within value chains which often are found when electronic messages are exchanged directly between businesses ( electronic data interchange, EDI). Second, the services provided by electronic markets ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Online Auction
An online auction (also electronic auction, e-auction, virtual auction, or eAuction) is an auction held over the internet and accessed by internet connected devices. Similar to in-person auctions, online auctions come in a variety of types, with different bidding and selling rules. In 2002, online auctions were projected to account for 30% of all e-commerce, indicating large growth for the sector. There are three primary markets for online auctions: business to business (B2B), business to consumer (B2C), and consumer to consumer (C2C). The largest consumer-to-consumer online auction site is eBay, which is growing in popularity because it is a convenient, efficient, and effective method for buying and selling goods. Despite the benefits of online auctions, the anonymity of the internet, the large market, and the ease of access makes auction fraud easier online than in traditional auctions. , online auction fraud was the most common type of internet fraud. History Online auction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dark Pool
In finance, a dark pool (also black pool) is a private forum (alternative trading system or ATS) for trading securities, derivatives, and other financial instruments."The New Financial Industry" (March 30, 2014). 65 ''Alabama Law Review'' 567 (2014); Temple University Legal Studies Research Paper No. 2014-11; via SSRN. Liquidity on these markets is called dark pool liquidity. The bulk of dark pool trades represent large trades by s that are offered away from public ex ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Combinatorial Auction
A combinatorial auction is a type of smart market in which participants can place bids on combinations of discrete heterogeneous items, or “packages”, rather than individual items or continuous quantities. These packages can be also called lots and the whole auction a multi-lot auction. Combinatorial auctions are applicable when bidders have non-additive valuations on bundles of items, that is, they value combinations of items more or less than the sum of the valuations of individual elements of the combination. Simple combinatorial auctions have been used for many years in estate auctions, where a common procedure is to accept bids for packages of items. They have been used recently for truckload transportation, bus routes, industrial procurement, and in the allocation of radio spectrum for wireless communications. In recent years, procurement teams have applied reverse combinatorial auctions in the procurement of goods and services. This application is often referred to as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Theory
Game theory is the study of mathematical models of strategic interactions among rational agents. Myerson, Roger B. (1991). ''Game Theory: Analysis of Conflict,'' Harvard University Press, p.&nbs1 Chapter-preview links, ppvii–xi It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed two-person zero-sum games, in which each participant's gains or losses are exactly balanced by those of other participants. In the 21st century, game theory applies to a wide range of behavioral relations; it is now an umbrella term for the science of logical decision making in humans, animals, as well as computers. Modern game theory began with the idea of mixed-strategy equilibria in two-person zero-sum game and its proof by John von Neumann. Von Neumann's original proof used the Brouwer fixed-point theorem on continuous mappings into compact convex sets, which became a standard method in game theory and mathem ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Allocative Efficiency
Allocative efficiency is a state of the economy in which production is aligned with consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to consumers equal to the marginal cost of producing. Description In contract theory, allocative efficiency is achieved in a contract in which the skill demanded by the offering party and the skill of the agreeing party are the same. Resource allocation efficiency includes two aspects: # At the macro aspect, it is the allocation efficiency of social resources, which is achieved through the economic system arrangements of the entire society. # The micro aspect is the use efficiency of resources, which can be understood as the production efficiency of the organization, which can be improved through innovation and progress within the organizations. Although there are different standards of evaluation for the concept of allocative efficiency, the basic principle ass ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Private Equity
In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a type of ownership of assets ( financial equity) and is a class of assets (debt securities and equity securities), which function as modes of financial management for operating private companies that are not publicly traded in a stock exchange. Private-equity capital is invested into a target company either by an investment management company (private equity firm), or by a venture capital fund, or by an angel investor; each category of investor has specific financial goals, management preferences, and investment strategies for profiting from their investments. Each category of investor provides working capital to the target company to finance the expansion of the company with the development of new products and services, the restruct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Firstpex
FirstPEX is a private electronic market for private equity transactions that allows qualified investors to buy and sell equities to each other through a bidding process which enables the parties to find a mutually agreeable price. Its primary audience is entrepreneurs, investors and business owners, in which negotiations and the exchange of information on investment transactions is covered prior to closing transactions. The platform was founded by Patrick Gruhn. The site also allows users to trade in non-liquid assets. Through a partnership with UK-based Autumn Capital Partners the platform was expanded outside of Switzerland to the rest of Europe. The platform is not subject to the regulatory supervision by the Swiss Financial Market Supervisory Authority (FINMA); however it is subject to authorization in Europe Europe is a large peninsula conventionally considered a continent in its own right because of its great physical size and the weight of its history and traditio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Market (economics)
In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society. Markets allow any tradeable item to be evaluated and priced. A market emerges more or less spontaneously or may be constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods. Markets generally supplant gift economies and are often held in place through rules and customs, such as a booth fee, competitive pricing, and source of goods for sale (local produce or stock registration). Markets can ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
