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Enabling Global Price Comparison through Semantic Integration of Web Data

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  • Zhu, Hongwei
  • Siegel, Michael
  • Madnick, Stuart

Abstract

€ܓell GloballyÂ€Ý and €ܓhop GloballyÂ€Ý have been seen as a potential benefit of web-enabled electronic business. One important step toward realizing this benefit is to know how things are selling in various parts of the world. A global price comparison service would address this need. But there have not been many such services. In this paper, we use a case study of global price dispersion to illustrate the need and the value of a global price comparison service. Then we identify and discuss several technology challenges, including semantic heterogeneity, in providing a global price comparison service. We propose a mediation architecture to address the semantic heterogeneity problem, and demonstrate the feasibility of the proposed architecture by implementing a prototype that enables global price comparison using data from web sources in several countries.

Suggested Citation

  • Zhu, Hongwei & Siegel, Michael & Madnick, Stuart, 2008. "Enabling Global Price Comparison through Semantic Integration of Web Data," Working papers 40084, Massachusetts Institute of Technology (MIT), Sloan School of Management.
  • Handle: RePEc:mit:sloanp:40084
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    File URL: http://hdl.handle.net/1721.1/40084
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    References listed on IDEAS

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    1. Timothy Cogley & Riccardo Colacito & Thomas J. Sargent, 2007. "Benefits from U.S. Monetary Policy Experimentation in the Days of Samuelson and Solow and Lucas," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(s1), pages 67-99, February.
    2. Clay, Karen & Krishnan, Ramayya & Wolff, Eric, 2001. "Prices and Price Dispersion on the Web: Evidence from the Online Book Industry," Journal of Industrial Economics, Wiley Blackwell, vol. 49(4), pages 521-539, December.
    3. Madnick, Stuart & Siegel, Michael, 2002. "Seizing the Opportunity: Exploiting Web Aggregation," Working papers 4351-01, Massachusetts Institute of Technology (MIT), Sloan School of Management.
    4. Philipp Maier, 2005. "A global village without borders? international price differentials at eBay," Proceedings, Board of Governors of the Federal Reserve System (U.S.).
    5. Erik Brynjolfsson & Michael D. Smith, 2000. "Frictionless Commerce? A Comparison of Internet and Conventional Retailers," Management Science, INFORMS, vol. 46(4), pages 563-585, April.
    6. Michael R. Baye & John Morgan & Patrick Scholten, 2004. "Price Dispersion In The Small And In The Large: Evidence From An Internet Price Comparison Site," Journal of Industrial Economics, Wiley Blackwell, vol. 52(4), pages 463-496, December.
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    Keywords

    Global Price Comparison; Shopbots; Context; Semantic Data Integration; Semantic Heterogeneity;

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