Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Simulation for Business Engineering of Electronic Markets

Simulation for Business Engineering of Electronic Markets
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Author(s): Marijn Janssen (Delft University of Technology, The Netherlands)
Copyright: 2005
Pages: 5
Source title: Encyclopedia of Information Science and Technology, First Edition
Source Author(s)/Editor(s): Mehdi Khosrow-Pour, D.B.A. (Information Resources Management Association, USA)
DOI: 10.4018/978-1-59140-553-5.ch443


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Information and communication technology (ICT) is applied to support the creation of electronic markets (e-markets). Electronic data interchange (EDI) is the exchange of structured data between information systems of different organizations. EDI is often considered as the first step towards e-markets. In the course of time EDI was extended and interorganizational information systems (IOS) were used to create electronic marketplaces. IOS serve as intermediaries between buyers and sellers. Probably the most well known examples of IOSs are airline reservation systems, which are closed systems having typically a limited number of participants.

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