Market engineering - towards an interdisciplinary approach [online]

The success of electronic markets does not only hinge upon
scalable IT platforms combined with extensive marketing
campaigns. Scientists and practitioners tend to agree that
electronic markets have to be carefully designed, since even
small failures in design decide on the overall success or
failure of a marketplace.
Unfortunately, traditional market design literature is often
limited to the design of the trading rules. To solve practical
challenges, the design of an adequate business model for the
market operator and the design of individual IT platforms are
also essential.
The paper introduces a conceptual framework based on secondary
literature research that attempts to integrate the various
theory streams of market design.
By applying the grounded theory method, a market engineering
process is derived. With the concept of Computer Aided Market
Engineering (CAME) the present paper provides the vision, to
analyze and structure the problem domain and to guide market
designers in their task supporting them with an integrated tool
suite.