A core broking model for E-markets

Pen Choug Sun, Michael Odetayo, Rahat Iqbal, Anne James

Research output: Chapter in Book/Report/Conference proceedingConference proceeding

3 Citations (Scopus)

Abstract

Coalitions, which allow traders to form teams, can sometimes accomplish tasks more efficiently than individuals. The core has become a popular solution concept in economic applications for researchers in Computer Science, because it provides a way to find stable sets. However, its problems hinder researchers from applying it to a real world market. This paper proposes a new Core Broking Model (CBM), which is based on the core and adopts some other solution concepts to resolve group trading problems in emarkets. It involves bundle selling of composite services from several service providers, offering amount discounts in group buying in the e-marketplace. The CBM successfully creates a win-win-win situation for customers, providers and brokers in e-markets. The comparison between the results of the new model and the core shows that the CBM is superior to the core when applied in e-markets. The results of the simulation presented in this paper demonstrate that the CBM can attract customers and deal with online group trading problems in a large coalition. An extensive evaluation of the CBM has been made and shows that it is effective and efficient.

Original languageEnglish
Title of host publicationProceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012
EditorsKuo-Ming Chao, Hui Lei, Yinsheng Li, Jen-Yao Chung, Nazaraf Shah
PublisherIEEE
Pages78-85
Number of pages8
ISBN (Print)9780769548098
DOIs
Publication statusPublished - 2012
Event9th IEEE International Conference on E-Business Engineering, ICEBE 2012, Including, SOAIC 2012, EM2I 2012, SOKMBI 2012, ASOC 2012 - Hangzhou, China
Duration: 9 Sep 201211 Sep 2012

Conference

Conference9th IEEE International Conference on E-Business Engineering, ICEBE 2012, Including, SOAIC 2012, EM2I 2012, SOKMBI 2012, ASOC 2012
CountryChina
CityHangzhou
Period9/09/1211/09/12

Fingerprint

Computer science
E-market
Sales
Economics
Composite materials
Solution concepts
Win-win
Evaluation
Traders
Service provider
Simulation
Stable set
E-marketplace
World market
Discount
Broker

Keywords

  • Coalition
  • Core
  • E-Market
  • Shapley Value
  • Stability

ASJC Scopus subject areas

  • Management of Technology and Innovation
  • Economics, Econometrics and Finance (miscellaneous)

Cite this

Sun, P. C., Odetayo, M., Iqbal, R., & James, A. (2012). A core broking model for E-markets. In K-M. Chao, H. Lei, Y. Li, J-Y. Chung, & N. Shah (Eds.), Proceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012 (pp. 78-85). [6468221] IEEE. https://doi.org/10.1109/ICEBE.2012.22

A core broking model for E-markets. / Sun, Pen Choug; Odetayo, Michael; Iqbal, Rahat; James, Anne.

Proceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012. ed. / Kuo-Ming Chao; Hui Lei; Yinsheng Li; Jen-Yao Chung; Nazaraf Shah. IEEE, 2012. p. 78-85 6468221.

Research output: Chapter in Book/Report/Conference proceedingConference proceeding

Sun, PC, Odetayo, M, Iqbal, R & James, A 2012, A core broking model for E-markets. in K-M Chao, H Lei, Y Li, J-Y Chung & N Shah (eds), Proceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012., 6468221, IEEE, pp. 78-85, 9th IEEE International Conference on E-Business Engineering, ICEBE 2012, Including, SOAIC 2012, EM2I 2012, SOKMBI 2012, ASOC 2012, Hangzhou, China, 9/09/12. https://doi.org/10.1109/ICEBE.2012.22
Sun PC, Odetayo M, Iqbal R, James A. A core broking model for E-markets. In Chao K-M, Lei H, Li Y, Chung J-Y, Shah N, editors, Proceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012. IEEE. 2012. p. 78-85. 6468221 https://doi.org/10.1109/ICEBE.2012.22
Sun, Pen Choug ; Odetayo, Michael ; Iqbal, Rahat ; James, Anne. / A core broking model for E-markets. Proceedings - 9th IEEE International Conference on E-Business Engineering, ICEBE 2012. editor / Kuo-Ming Chao ; Hui Lei ; Yinsheng Li ; Jen-Yao Chung ; Nazaraf Shah. IEEE, 2012. pp. 78-85
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