Investigating the evolution of electronic markets

Abstract

Markets evolve through 'entrepreneurial' intervention which is based on intuition and on timely information. An electronic market has been constructed in the laboratory as a collaborative virtual environment to identify timely entrepreneurial information for e-markets. This information is distilled from individual signals in the markets themselves and from signals observed on the Internet. Distributed, concurrent, time-constrained data mining methods are managed using business process management technology to extract timely, reliable information from this inherently unreliable environment. © Springer-Verlag Berlin Heidelberg 2001.