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| Detailed information |
| Original study plan |
Master's programme Economic and Business Analytics 2022W |
| Objectives |
Online marketplaces include the classic e-commerce sector (B2C and B2B), auction platforms, but also stock exchanges ("many to many electronic exchanges"). Students know the relevant theoretical and empirical backgrounds and relationships for the respective online markets. Students know the economic peculiarities relevant for strategic company decisions on online marketplaces. Students understand the resulting consequences of the usage of information and communication technologies on these markets. Students understand how online marketplaces work and they are able to apply simple economic principles in the design of these online marketplaces. Students understand the strategic incentives that different allocation mechanisms offer on online marketplaces and they can derive optimal behavioral strategies for market participants.
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| Subject |
The course deals with the functionalities and the specialties of online marketplaces. In addition to an introduction to game theory and the associated economic competition models, simple basics of mechanism design are discussed. The theoretical and empirical features of e-commerce, auctions and exchanges are discussed (functionality, welfare implications, optimal strategic behavior, ...). The course also discusses how blockchains and cryptocurrencies work.
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| Criteria for evaluation |
Written Exam and a short homework
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| Methods |
The course is held in form of distance learning. Hence, we will not meet in class. The whole content of the course (videos, slides, additional material) is accessible via the JKU's Moodle system
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| Study material |
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- Game Theory 101 from William Spaniel (gametheory101.com)
- Robert Gibbons, A Primer in Game Theory, Harvester Wheatsheaf, 1992
- The Economics of E-Commerce, Nir Vulkan, Princeton University Press, 2003
- Krishna, Vijay, , Auction Theory, second edition, Elsevier, 2009.
- Paul Milgrom, Putting Auction Theory to Work, Cambridge University Press, 2004.
- Aleksandar Pekec, Michael Rothkopf, Combinatorial Auction Design, Management Science 2015
- E-Commerce Economics, David VanHoose, Baylor University, 2003
- Nir Vulkan, The Economics of E-Commerce. A strategic guide to understanding and designing the Online Marketplace; Princeton University Press 2003.
- Industrial Organization, Lynne Pepall, Dan Richards & George Norman, Blackwell Publishing, 2008
- Niklaus Hofer („Vimja“): https://media.ccc.de/v/33c3-7824-einfuhrung_zu_blockchains
- Several additional scientific journal articles on specific aspects of online market places
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| Changing subject? |
No |
| Earlier variants |
They also cover the requirements of the curriculum (from - to)
977DIGEOMPK20: VU Online Marketplace (2020W-2021S)
575WBECOMPK10: VU Online Marketplace (2011W-2020S)
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