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| Author: | Bakos, J. |
| Title: | Reducing buyer search costs: implications for electronic marketplaces |
| Journal: | Management Science
1997 : DEC, VOL. 43:12, p. 1676-1692 |
| Index terms: | MANAGEMENT COSTS ELECTRONICS INDUSTRY |
| Language: | eng |
| Abstract: | Information systems can serve as intermediaries between the buyers and the sellers in a market, creating an "electronic marketplace" that lowers the buyers' cost to acquire information about seller prices and product offerings. As a result, electronic marketplaces reduce the inefficiencies caused by buyer search costs, in the process reducing the ability of sellers to extract monopolistic profits while increasing the ability of markets to optimally allocate productive resources. |
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