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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. |
