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| Author: | Daniel, E. Klimis, G. M. |
| Title: | The impact of electronic commerce on market structure: An evaluation of the electronic market hypothesis. |
| Journal: | European Management Journal
1999 : VOL. 17:3, p. 318-325 |
| Index terms: | INTERNET INTERNATIONAL TRADE ELECTRONIC SHOPPING |
| Language: | eng |
| Abstract: | It is now over 10 years since Malone et al. (Malone,T., Yates, J., and Benjamin, R. (1987) Electronic markets and electronic hierarchies. Communications of the ACM 30(6), 484-497) set out their hypothesis on electronic markets and electronic hierarchies, termed the electronic market hypo- thesis (EMH). In this paper we review the EMH and the re- sponse that it has generated in the academic literature since its publication. We consider developments that are ocurring in electronic distribution in two particular indu- stries; retail financial services and the music industry, in order to determine the current validity of Malone et al.'s hypothesis. It is concluded, that the model is still gene- rally valid. However our observations lead us to propose a variant of some stages of Malone et al.'s hypothesis, and so discuss a possible further evolutionary stage. |
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