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Business-to-Business Electronic Commerce

  • David Lucking-Reiley

    ()

    (Department of Economics, Vanderbilt University)

  • Daniel F. Spulber

    ()

    (Kellogg Graduate School of Management, Northwestern University)

This paper, prepared for the Journal of Economic Perspectives, provides an overview of the economic issues arising in business-to-business (B2B) online commerce. Just as the industrial revolution mechanized firms' manufacturing functions, the information revolution is now mechanizing firms' marketing functions. Industry insiders have forecast tremendous growth in B2B e-commerce, most predicting transaction volumes in the trillions of dollars by 2005. We begin by defining the scope of B2B e commerce, and describing its possible benefits. Next, we consider the intermediation services and transaction mechanisms offered by B2B companies, drawing on models of market microstructure and of auctions. We provide an overview of the new entrants, examining the markets they propose to serve and the types of services that they propose to provide. We include a table of 49 examples of newly established B2B Web sites. Next, we comment on the possible effects of B2B e-commerce on economic productivity. We then examine competition between B2B companies and the industry structure we might expect this competition to generate. Finally, we explore the potential effects of B2B e-commerce on the organizational structure of the companies that are the purchasers and suppliers in the B2B markets.

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File URL: http://www.accessecon.com/pubs/VUECON/vu00-w16.pdf
File Function: First version, 2000
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Paper provided by Vanderbilt University Department of Economics in its series Vanderbilt University Department of Economics Working Papers with number 0016.

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Date of creation: Jun 2000
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Handle: RePEc:van:wpaper:0016
Contact details of provider: Web page: http://www.vanderbilt.edu/econ/wparchive/index.html

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  1. Dennis W. Carlton, 1984. "Futures markets: Their purpose, their history, their growth, their successes and failures," Journal of Futures Markets, John Wiley & Sons, Ltd., vol. 4(3), pages 237-271, 09.
  2. Casadesus-Masanell, Ramon & Spulber, Daniel F, 2000. "The Fable of Fisher Body," Journal of Law and Economics, University of Chicago Press, vol. 43(1), pages 67-104, April.
  3. Lucking-Reiley, David, 2000. "Auctions on the Internet: What's Being Auctioned, and How?," Journal of Industrial Economics, Wiley Blackwell, vol. 48(3), pages 227-52, September.
  4. repec:cup:cbooks:9780521659789 is not listed on IDEAS
  5. David, Paul A, 1990. "The Dynamo and the Computer: An Historical Perspective on the Modern Productivity Paradox," American Economic Review, American Economic Association, vol. 80(2), pages 355-61, May.
  6. Daniel F. Spulber, 1996. "Market Microstructure and Intermediation," Journal of Economic Perspectives, American Economic Association, vol. 10(3), pages 135-152, Summer.
  7. Gordon, Robert J, 2000. "Does the 'New Economy' Measure up to the Great Inventions of the Past?," CEPR Discussion Papers 2607, C.E.P.R. Discussion Papers.
  8. Stephen D. Oliner & Daniel E. Sichel, 2000. "The Resurgence of Growth in the Late 1990s: Is Information Technology the Story?," Journal of Economic Perspectives, American Economic Association, vol. 14(4), pages 3-22, Fall.
  9. Dale W. Jorgenson & Kevin J. Stiroh, 2000. "Raising the Speed Limit: U.S. Economic Growth in the Information Age," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 125-236.
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