互联网商务主体的参与决策和竞争行为研究
|
摘要
经过几年的曲折发展，中国的互联网商务已经逐渐成为重要的商务手段和经济现象。然而，国内对于互联网商务比较规范的理论和经验研究都还很少。本文尝试用经济学相关理论分析互联网商务的本质，通过实地调研了解中国互联网商务的发展和竞争现状，并用理论模型解释实践中的重要现象。
本文从卖方、买方和中介方等互联网商务参与主体的角度出发，研究了它们各自的参与决策及它们之间的竞争和博弈关系。我们发现，尽管互联网商务具有一些新的特点，但是它在很长时间内仍将是传统商务模式的有益补充。传统经济理论仍然能够较好地解释其中现象并指导实践，互联网商务企业仍然广泛采用了传统市场中的竞争手段和竞争策略。文章的主要结论和创新点包括：
第一，基于卖方完全信息动态博弈模型和买方购买决策模型，分别解释了卖方和买方参与互联网商务的决策过程和影响因素。阐明“电子商务替代传统商务”具有片面性，电子商务在很长时间内仍将是传统商务方式的补充，而且传统商务方式和电子商务有融合的趋势。
第二，对123家网上网下企业3类产品的销售价格进行了实地调查，并建立Salop-Hotelling“环湖孤岛”综合模型对经验研究结果进行解释。调研结果表明中国目前的互联网商务市场中也没有出现明显的Bertrand竞争的现象，但不同类型商品的竞争特征确有不同：各种商品的网上价格均有明显的扩散现象；但是，手机网上价格偏高、价格扩散大；图书网上价格明显低于网下、价格扩散较小；IP电话卡网上价格偏低、价格扩散最小。环湖孤岛模型证明差别化定位是网络零售商之间缓解价格竞争从而产生价格扩散的重要原因。互联网在创造新市场的同时，也会对不同定位、不同行业的传统厂商产生不同程度的冲击，但低价格并非互联网商务夺取传统厂商市场份额的必要条件。
第三，较为系统地阐述了互联网商务方式并不一定会减少信息不对称，并通过一个逆向选择模型，解释了互联网降低卖方交易成本而导致卖方过度涌入，以至出现严重逆向选择的现象。
第四，通过建立一个存在买方、卖方和中介方的微观模型，说明在互联网商务环境下，中介仍然有其存在的必要性和必然性，有效率的互联网中介能够从多方面促进互联网商务的发展。
After a flexuous development for several years, Internet Commerce gradually becomes an important commerce tool and a kind of economic phenomena in China. However, in China, there is strongly lack of theoretical and empirical studies done well in this field. This thesis tries to reveal the economic features of Internet Commerce using related economic theories, and understand the development and competitive behaviors of Internet Commerce in China through a field survey, as well as explain some important phenomena based on theoretical models.
From the angle of different parties of Internet Commerce, namely the seller, buyer and intermediary, the entry decision of each party and the competitive relationship are studied. It is demonstrated that although Internet Commerce really has some new features, it will still be in the complementary position of the traditional commerce in the future. The traditional economic theories can still explain the phenomena of Internet Commerce and instruct the practice well, and the Internet companies still take the competitive strategies and tools used commonly in the traditional market. The main conclusion and contributions are as follows:
Firstly, based on a model of dynamic game with perfect information and a model of purchase decision, the decision process and influence factors for seller and buyer are discussed respectively. It is shown that the view of "The traditional commerce will be replaced by e-commerce" is incomplete; e-commerce will be the complement of the traditional commerce, and the convergence of the traditional commerce and e-commerce will be a trend.
Secondly, after a field survey of three types products aimed to 123 online and traditional retailers, a model based on the Salop (1979) and Hotelling (1929), named "circular city and isolated island" model, is built to explain the empirical results. The survey results show that there is no obvious Bertrand competition in current Internet Commerce market of China. However, the competitive characteristics of different kinds of products are not the same. Although there is obvious online price dispersionfor each product, the online price level and price dispersion of the mobile phones are higher than those of the traditional market; the online price level of the books is significantly lower and the price dispersion is lower; the online price level of the IP card is slightly lower, and the price dispersion is the lowest among this three types of products. The essential reason for the price dispersion in the Internet market is the online retailers' differentiation strategy, by which the price competition can be alleviated, is demonstrated in the "circular city and isolated island" model. With the new market creation, Internet Commerce can also impact on traditional companies in different industries and with different product positions, but then the low price is not the necessary condition for online companies to erode the market share of the traditional companies.
Thirdly, it is elucidated that Internet Commerce does not necessarily reduce the information asymmetry. Through an adverse selection model, the phenomenon that the reduced transaction cost in Internet Commerce induces overmuch seller in the market and results in serious adverse selection is demonstrated.
Fourthly, through a microeconomic model with the buyer, seller and intermediary, it is argued that the intermediaries still could and should exist in Internet Commerce environment, and the efficient Internet intermediaries can facilitate the development of Internet Commerce from multiple aspects.
本文从卖方、买方和中介方等互联网商务参与主体的角度出发，研究了它们各自的参与决策及它们之间的竞争和博弈关系。我们发现，尽管互联网商务具有一些新的特点，但是它在很长时间内仍将是传统商务模式的有益补充。传统经济理论仍然能够较好地解释其中现象并指导实践，互联网商务企业仍然广泛采用了传统市场中的竞争手段和竞争策略。文章的主要结论和创新点包括：
第一，基于卖方完全信息动态博弈模型和买方购买决策模型，分别解释了卖方和买方参与互联网商务的决策过程和影响因素。阐明“电子商务替代传统商务”具有片面性，电子商务在很长时间内仍将是传统商务方式的补充，而且传统商务方式和电子商务有融合的趋势。
第二，对123家网上网下企业3类产品的销售价格进行了实地调查，并建立Salop-Hotelling“环湖孤岛”综合模型对经验研究结果进行解释。调研结果表明中国目前的互联网商务市场中也没有出现明显的Bertrand竞争的现象，但不同类型商品的竞争特征确有不同：各种商品的网上价格均有明显的扩散现象；但是，手机网上价格偏高、价格扩散大；图书网上价格明显低于网下、价格扩散较小；IP电话卡网上价格偏低、价格扩散最小。环湖孤岛模型证明差别化定位是网络零售商之间缓解价格竞争从而产生价格扩散的重要原因。互联网在创造新市场的同时，也会对不同定位、不同行业的传统厂商产生不同程度的冲击，但低价格并非互联网商务夺取传统厂商市场份额的必要条件。
第三，较为系统地阐述了互联网商务方式并不一定会减少信息不对称，并通过一个逆向选择模型，解释了互联网降低卖方交易成本而导致卖方过度涌入，以至出现严重逆向选择的现象。
第四，通过建立一个存在买方、卖方和中介方的微观模型，说明在互联网商务环境下，中介仍然有其存在的必要性和必然性，有效率的互联网中介能够从多方面促进互联网商务的发展。
After a flexuous development for several years, Internet Commerce gradually becomes an important commerce tool and a kind of economic phenomena in China. However, in China, there is strongly lack of theoretical and empirical studies done well in this field. This thesis tries to reveal the economic features of Internet Commerce using related economic theories, and understand the development and competitive behaviors of Internet Commerce in China through a field survey, as well as explain some important phenomena based on theoretical models.
From the angle of different parties of Internet Commerce, namely the seller, buyer and intermediary, the entry decision of each party and the competitive relationship are studied. It is demonstrated that although Internet Commerce really has some new features, it will still be in the complementary position of the traditional commerce in the future. The traditional economic theories can still explain the phenomena of Internet Commerce and instruct the practice well, and the Internet companies still take the competitive strategies and tools used commonly in the traditional market. The main conclusion and contributions are as follows:
Firstly, based on a model of dynamic game with perfect information and a model of purchase decision, the decision process and influence factors for seller and buyer are discussed respectively. It is shown that the view of "The traditional commerce will be replaced by e-commerce" is incomplete; e-commerce will be the complement of the traditional commerce, and the convergence of the traditional commerce and e-commerce will be a trend.
Secondly, after a field survey of three types products aimed to 123 online and traditional retailers, a model based on the Salop (1979) and Hotelling (1929), named "circular city and isolated island" model, is built to explain the empirical results. The survey results show that there is no obvious Bertrand competition in current Internet Commerce market of China. However, the competitive characteristics of different kinds of products are not the same. Although there is obvious online price dispersion
Thirdly, it is elucidated that Internet Commerce does not necessarily reduce the information asymmetry. Through an adverse selection model, the phenomenon that the reduced transaction cost in Internet Commerce induces overmuch seller in the market and results in serious adverse selection is demonstrated.
Fourthly, through a microeconomic model with the buyer, seller and intermediary, it is argued that the intermediaries still could and should exist in Internet Commerce environment, and the efficient Internet intermediaries can facilitate the development of Internet Commerce from multiple aspects.
引文
[1] U.S. Department of Commerce. Digital Economy 2000[M]. U.S. Department of Commerce, Washington, 2000.
[2] Beth Cox. Two Thumbs Up for E-Commerce [EB/OL]. http://cyberatlas.internet.com/markets/retailing/article/0,,6061_1604401,00.html, February 26, 2003.
[3] Lee W. McKnight and Joseph P. Bailey. An Introduction to Internet Economics [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[4] Economides, Nicholas. Competition and Integration among Complements, and Network Market Structure [J]. Journal of Industrial Economics, 1992, XL (1): 105-123.
[5] Economides, N. The Economics of Networks [J]. International Journal of Industrial Organization, 1996, 16(4).
[6] Joseph P. Bailey. Economics and Internet Interconnection Agreements [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[7] MacKie-Mason, J. K. and Varian, H. R.. Pricing the Internet [M]. In B. Kahin & J. Keller (Eds), Public Access to the Internet. Cambridge, MA: The MIT Press, 1995:269-341.
[8] Loretta Anania and Richard Jay Solomon. Flat: The Minimalist B-ISDN Rate [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[9] Mitrabarun Sarkar. An Assessment of Pricing Mechanisms for the Internet - A Regulatory Imperative [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[10] Martyne M. Hallgren and K. McAdams. A Model for Efficient Aggregation of Resources for Economic Public Goods on the Internet [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[11] Jiong Gong and Padmanabhan Srinagesh. The Economics of Layered Networks [A]. MIT Workshop on Internet Economics, 1995.
[12] David W. Crawford. Pricing Network Usage: A Market for Bandwidth or Market for Communication? [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[13] 陈耀刚，姜彦福. 美国网络经济研究现状及趋势[J]. 经济学动态，2000, 12.
[14] Bailey, Joseph P. Intermediation and Electronic Markets: Aggregation and Pricing in Internet Commerce [D]. Ph.D. Thesis, Technology, Management and Policy, Massachusetts Institute of Technology, Cambridge, MA.,1998.
[15] Smith, Michael, Joseph Bailey, Erik Brynjolfsson. Understanding Digital Markets [M]. E. Brynjolfsson, B. Kahin, Eds. Understanding the Digital Economy, MIT Press, Cambridge,MA, 2000.
[16] Clemons, Eric K., Hann, Il-Horn and Hitt, Lorin M. The Nature of Competition in Electronic Markets: An Empirical Investigation of Online Travel Agent Offerings [J]. Working Paper, The Wharton School of the University of Pennsylvania, June 1998.
[17] Bakos, J. Yannis. Reducing Buyer Search Costs: Implications for Electronic Marketplaces [J]. Management Science, December 1997, 43 (12).
[18] 邹奕萍. B2B网站存活尚不过半，电子商务谁主沉浮? [EB/OL]. http://www.21fw.com/web10.htm，2002年11月.
[19] 马小森. 网上购物走出低谷，交易增长164.14%达3.83亿[J]. 北京晨报，2002年12月29日.
[20] 何广怀. 去年深圳电子商务网上交易额突破30亿元[J].计算机世界报, 2003, 3(D1).
[21] Jack E. Triplett. Economic Statistics, the New Economy, and the Productivity Slowdown [J]. Business Economics, April 1999.
[22] Martin Fleming. The New Business Cycle: The Impact of the Application and Production of Information Technology on U.S. Macroeconomic Stabilization [J]. Business Economics, October 1997.
[23] William Leher and Frank R. Lichtenberg. Computer Use and Productivity Growth in US Federal Government Agencies, 1987-1992 [J]. The Journal of Industrial Economics, June 1998, XLV1(2).
[24] Wesley Szu-Way Shu. From Different Angles to Solve the Puzzle: Macro-Economic and Micro-Economic Analyses of Information Technology Productivity [D]. Ph.D. Thesis, The University of Arizona, 1998.
[25] U.S. Department of Commerce. Emerging Economy [M]. U.S. Department of Commerce, Washington, 1998.
[26] U.S. Department of Commerce, Emerging Economy II [M]. U.S. Department of Commerce, Washington, 1999.
[27] Robert B. Cohen. The Economic Impact of Information Technology [J]. Business Economics, October 1995.
[28] Erik Brynjolfsson. The Contribution of Information Technology to Consumer Welfare [J]. Information Systems Research, September 1996, 7(3).
[29] Lorin M. Hitt and Erik Brynjolfsson. Productivity, Business Profitability, and Consumer Surplus: Three Different Measures of Information Technology Value [J]. MIS Quarterly, June 1996.
[30] Malone, T.W., Yates, J., and Benjamin, R.I. Electronic Markets and Electronic Hierarchies[J]. Communications of the ACM, June 1987,30 (6): 484-496.
[31] Benjamin, R.I and Yates, J. The Past and Present as a Window on the Future [M]. M.S. Scott Morton (ed.), The Corporation of the 1990's. New York: Oxford University Press, 1991:61-72.
[32] Guillermo Israilevich. Review and Comments on Electronic Commerce Literature [EB/OL]. http://home.uchicago.edu/~guille/vita.html, 2000.
[33] Troy Jefferson Strader. The Impact of Electronic Commerce on Consumer and Organizational Costs [D]. Ph.D. Thesis, University of Illinois at Urbana-Champaign, 1997.
[34] David C. Croson, M.G. Jacobides, etc. Explaining Entry Decision and Crowdedness in Business to Business Electronic Commerce Markets [EB/OL]. http://www.wharton.upenn.edu/faculty/crosond.html, September 10, 2001
[35] Reibstein, David J.. What Attracts Customers to Online Stores, and What Keeps Them Coming Back [J]. Journal of the Academy of Marketing Science, 2002, 30 (4): 465-473.
[36] Soon-Yong choi, Dale O. Stahl, Andrew E. Whinston. The Economics of Electronic Commerce [M]. Macmillan Technical Publishing, Indianapolis, Indiana, 1997.
[37] Clemons, Eric K.，Hann, Il-Horn and Hitt, Lorin M. The Nature of Competition in Electronic Markets: An Empirical Investigation of Online Travel Agent Offerings [J]. Working Paper, The Wharton School of the University of Pennsylvania, June 1998.
[38] Bakos, J.Y.. A Strategic Analysis of Electronic Marketplaces [J]. MIS Quarterly, 1991,15(3): 295-312.
[39] Luis Garicano and Steven N. Kaplan. The Effects of Business-to-Business E-Commerce on Transaction Costs [EB/OL]. http://papers.nber.org/papers/w8017, November 2000.
[40] Bailey, J. P. Electronic Commerce: Prices and Consumer Issues for Three Products: Books, Compact Discs, and Software [J]. Organization for Economic Co-Operation and Development, OCDE/GD (98), 1998.
[41] Brynjolfsson, Erik, Smith, Michael. Frictionless Commerce? A Comparison of Internet and Conventional Retailers [J]. Working Paper, MIT, 1999.
[42] Anitesh Barua, Preyas S. Desai and Raj Srivastava. Economic Perspectives on Digital Marketing [EB/OL]. http://www.haas.berkeley.edu/Courses/Spring2000/BA269D/BaruaDesaiSrivastava99.pdf, 1999.
[43] Xiaorui Hu, Zhangxi Lin, Andrew B. Whinston, et al. Perceived Risk and Escrow Adoption: An Economic Analysis in Online Consumer-to-Consumer Auction Markets [A]. Proceedings of ICIS 2001, May 2001.
[44]Xing Pan, and Venkatesh Shankar .On the Efficiency of Electronic Markets for Consumer Goods [J]. Working Paper, University of Maryland, College Park, MD 20742, 2002.
[45] Salop, S., Stiglitz J. E. The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents [J]. The American Economic Review, December 1982, 72 (5): 1121-1130.
[46] Varian, Hal R.. A Model of Sales [J]. The American Economic Review, September 1980, 70 (4): 651-659.
[47] Stahl, Dale O.. Oligopolistic Pricing with Sequential Consumer Search [J]. The American Economic Review, 1989, 79 (4): 700-712.
[48] Stahl, Dale O.. Oligopolistic Pricing with Heterogeneous Consumer Search [J]. International Journal of Industrial Organization, 1996, 14(2): 243-268.
[49] Micheal R. Baye and John Morgan. Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets [J]. American Economic Review, 2001, 91 (3): 454-474.
[50] Hal R. Varian. Market Structure in the Network Age [EB/OL]. http://www.sims.berkeley.edu/, 1999.
[51] Balasubramanian, Sridhar and Robert A. Peterson. An Analysis of Product and Service Markets in a Multiple-Channel Environment [J]. Working Paper, University of Texas at Austin, 1998.
[52] Hotelling, Harold. Stability in Competition [J]. Economic Journal, 1929, 39: 41-57.
[53] Salop, Steven, C.. Monopolistic Competition with Outside Goods [J]. Bell Journal of Economics, 1979, 10, 141-156.
[54] Varian, H. Microeconomic Analysis [M]. Norton, New York, 1984.
[55] Varun Grover and Pradipkumar Ramanlal. Six Myths of Information and Markets: Information Technology Networks, Electronic Commerce, and the Battle for Consumer Surplus [EB/OL]. http://theweb.badm.sc.edu/grover/grover.htm, 1999.
[56] Michael D. Smith, Joseph Bailey, Erik Brynjolfsson. Understanding Digital Markets: Review and Assessment [EB/OL]. http://ecommerce.mit.edu/papers/ude, 1999.
[57] Png, Ivan, Tom S.Y. Lee, Cui Yan. The Competitiveness of On-line vis-à-vis Conventional Retailing [J]. Working Paper, National University of Singapore, Singapore 2000.
[58] Lee, Ho Geun. Do Electronic Marketplaces Lower the Price of Goods [J]. Communications of the ACM, January 1997, 41(12).
[59] Luis Garicano and Steven N. Kaplan. The Effects of Business-to-Business E-Commerceon Transaction Costs [EB/OL]. http://papers.nber.org/papers/w8017, November 2000.
[60] Karen Clay, Ramayya Krishnan, and Michael Smith. The Great Experiment: Pricing on the Internet [M]. The Handbook of Electronic Commerce in Business and Society, Lowry, Cherrington, and Watson, eds. CRC Press. 2001:139-152.
[61] Xing Pan, Venkatesh Shankar and Brian T. Ratchford. Price Competition Between Pure Play vs. Bricks-and-Clicks e-Tailers: Analytical Model and Empirical Analysis. Working Paper [EB/OL]. http:// www.ebrc.psu.edu/publications/papers/pdf/2002_11.pdf, 2002.
[62] Clay, K., R. Krishnan, and E. Wolff. Prices and Price Dispersion on the Web: Evidence from the Online Book Industry [J]. Working Paper, #8271,National Bureau of Economic Research, May 2001.
[63] Tang, Fang-Fang, Xiaolin Xing. An Empirical Study on Pricing Differences between Dot coms and Hybrids in the Online Video Market [J]. Working paper, Nanyang Business School, Singapore, 2000.
[64] Porter, M. E. Competitive Advantage: Creating and Sustaining Superior Performance [M]. New York, Free Press, 1985.
[65] Chamberlin, E. The Theory of Monopolistic Competition [M]. Cambridge, Harvard University Press, 1933.
[66] Salop, S., Stiglitz, J. Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion[J]. Review of Economic Studies, 1976, 44: 493-510.
[67] McVey, Henry. Online Financial Services [EB/OL]. http://www.msdw.com/, August 2000.
[68] Reichheld, F. F. and P. Schefter. E-loyalty: Your Secret Weapon on the Web [J]. Harvard Business Review2000 Jul/Aug, 78(4): 105-113.
[69] Klemperer, P.. Markets with Consumer Switching Costs [J]. The Quarterly Journal of Economics, 1987, 102 (2): 375-394.
[70] Varian, Hal R. Price Discrimination [M]. In Handbook of Industrial Organization, edited by R. Schmalensee and R. Willig. Amsterdam: North Holland, 1989.
[71] Kollock, Peter. The Production of Trust in Online Markets [J]. Advances in Group Processes, Lawler, Macy, Thyne, Walker eds. JAI Press, Greenwich CT. 1999,16.
[72] Urban, Glen L., Sultan, Fareena and Qualls, William. Trust-based Marketing on the Internet [J]. Working Paper, #4035-98, MIT Sloan School of Management, 1998.
[73] Shankar, Venkatesh, Rangaswamy, Arvind and Pusateri, Michael. The Impact of Internet Marketing on Price Sensitivity and Price Competition [A]. Presented at Marketing Science and the Internet, INFORM College on Marketing Mini-Conference, Cambridge, MA. 6-8March, 1998.
[74] 杨滨. 最新研究报告表明北京人网上购物占全国2/3 [J]. 北京晚报，2002年12月31日.
[75] Jean Tirole 著. 张维迎 总译校. 产业组织理论[M]. 中国人民大学出版社，1997年8月. 362-363.
[76] Yuji Nakayama, Kiyohiko G. Nishimura. Does e-Commerce Always Increase Social Welfare in the Long Run? [EB/OL]. http://www.e.u-tokyo.ac.jp/cirje/research/ dp/2002/2002cf144.pdf, January 2002.
[77] 曹韫建，顾新一. 一类存在网络外部性的水平差异性模型[J]. 管理科学学报, 2002, 5(1): 59-63.
[78] Economides, Nicholas.The Principle of Minimum Differentiation Revisited [J]. European Economic Review, 1984, 24: 345-368.
[79] Economides, Nicholas. Quality Variations in the Circular Model of Variety Differentiated Products [J]. Regional Science and Urban Economics, 1993, 23: 235-257.
[80] Neven, Damien, and Jacques-Francois Thisse. On Quality and Variety Competition [M]. Economic Decision-Making: Games, Econometrics and Optimization, eds. J.J. Gabszewicz, J.-F. Richard and L.A. Wolsey, Amsterdam: North-Holland, 1990: 175-199.
[81] Vandenbosch, Mark B., and Charles B. Weinberg. Product and Price Competition in a Two-Dimensional Vertical Differentiation Model [J]. Marketing Science, 1995.
[82] Andreu Mas-Colell, Michael D.Whinston and Jerry R.Green. Microeconomic Theory [M]. Oxford University Press, New York, 1995:964-966.
[83] Chuan He. Competition In An Internet Mall: A Strategic Analysis of A New Marketing Venue[J]. Working Paper, Washington University in St.Louis, September 2001: 32-34.
[84] Goolsbee, Austan. Competition in the Computer Industry: Online Versus Retail [EB/OL]. http://gsbwww.uchicago.edu/fac/austan.goolsbee/research/ecompute.pdf, 2001.
[85] Brown, Jeffrey R., Austan Goolsbee. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry [J]. Working Paper, #7996, National Bureau of Economic Research, October 2000.
[86] 张维迎. 博弈论与信息经济学 [M].上海人民出版社，1996年8月.397-403.
[87] 平新乔. 微观经济学十八讲[M]. 北京大学出版社，2001年4月. 251-252.
[88] Akerlof, G.. The Market for Lemons: Quality Uncertainty and the Market Mechanism [J]. Quarterly Journal of Economics, 1970, 84: 488-500.
[89] Wilson,C. The Nature of Equilibrium in Markets with Adverse Selection [J]. Bell Journal of Economics, 1980, 11:108-130.
[90]Rothschild, M., and J. Stiglitz. Equilibrium in Competitive Insurance Market [J]. Quarterly Journal of Economics, 1976, 90: 629-49.
[91] Stiglitz, J., and A. Weiss. Credit Rationing in Markets with Imperfect Information [J]. American Economic Review, 1981, 71:393-410.
[92] Spence, A. M..Market Signaling [M]. Cambridge, Mass: Harvard Universtity Press, 1974.
[93] Cooper, R., and T. Ross. Prices, Product Qualities, and Asymmetric Information: The Competitive Case [J]. The Review of Economic Studies, 1984, 51: 197-207.
[94] 李健，郑如霞. 网络时代的客户关系管理[J]. 中央财经大学学报，2001, 6.
[95] 张洪吉，崔援民，崔凡. 电子商务对现代营销理论基本缺陷的纠正[J]. 中国软科学，2002, (4):58-61.
[96] Zerdick, A., A. Picot, K. Schrape, A. Artropé, K. Goldhammer, U.T. Lange, E.Vierkant, E. López-Escobar and R. Silverstone. Die Internet-?konomie: Strategien für die digitale Wirtschaft [J]. European Communication Council Report, Springer, 1999: 159-160.
[97] Hemant K. Bhargava and Shankar Sundaresan. Quality Uncertainty in IT-intensive Commerce: Optimal Design of Quality-Contingent Pricing [EB/OL]. http:// www.smeal.psu.edu/~bhargava/Pub/Papers/ EC/contingency-pricing-2002.pdf, July 2002:1-2.
[98] Oliver Fabel and Erik E. Lehmann. Adverse Selection and the Economic Limits of Market Substitution: An Application to E-Commerce and Traditional Trade in Used Cars [EB/OL]. http://papers.ssrn.com/sol3/results.cfm, 2000.
[99] Bin Gu and Lorin M. Hitt. Transaction Costs and Market Efficiency [J]. Twenty-Second International Conference on Information Systems, 2001: 85-96.
[100] Patrick Bajari and Ali Hortacsu. Cyberspace Auctions and Pricing Issues: A Review of Empirical Findings [EB/OL]. http:// ideas.repec.org/p/wop/stanec/02005.html, April 2002.
[101] Clemons, Hitt, and Snir. A Risk Analysis Framework for IT Outsourcing [EB/OL]. http:// tecom.cox.smu.edu/esnir/Outsourcing.pdf, Octobor 2000: 66-68.
[102] Mark Steckbeck and Peter Boettke. TURNING LEMONS INTO LEMONADE: Entrepreneurial Solutions to Adverse Selection Problems in E-Commerce [A]. Third Annual Conference of the Association of Historians of the Austrian Tradition in Economic Thought, Pisa–Lucca, 24-26 May 2001.
[103] Eli M. Snir. Designing Internet Spot Markets of IT Services [EB/OL]. http://tecom.cox.smu.edu/esnir/k_market.pdf, October 4, 2000
[104] Sakar, M., Butler, B. and Steinfield, C.. Intermediaries and Cybermediaries: A Continuing Role for Mediating Players in the Electronic Marketplace [EB/OL].http://shum.cc.huji.ac.il/jcmc/vol1/issue3/sarkar.html, 1996.
[105] Rubinstein, A. and Wolinsky, A.. Middlemen [J]. Quarterly Journal of Economics, 1987, 102: 581-593.
[106] Bose, G. and Pingle, M.. Stores [J]. Economic Theory, 1995, 6: 251-262.
[107] Bhattacharya, S. and Hagerty, K. Dealerships, Training Externalities, and General Equilibrium [M]. Contractual Arrangements for Intertemporal Trade. Minnesota Series in Macroeconomics, Minneapolis: University of Minnesota Press, 1989.
[108] Byungtae Lee and Byungjoon Yoo. Internalization of Electronic 'Auction market' and Information Asymmetry in Electronic Commerce [EB/OL]. http:// www.gsia.cmu.edu/andrew/sandras/ public/wise/pdf/blee01.pdf, September 1999,2-3.
[109] Williamson, S. and Wright, R. Barter and Monetary Exchange under Private Information [J]. The American Economic Review, March 1994: 101-123.
[110] Croson, David C. A New Role for Middlemen: Centralizing Reputation in Repeated Exchange [M]. Philadelphia, PA: Wharton School of Business, 1995.
[111] Lu, Jing. "Lemons" in Cyberspace: A Call for Middlemen [A]. Conference of Global Networking. June 1997 at Calgary, 1997.
[112] Hoffman, Donna L., and Thomas P. Novak. Marketing in Computer-Mediated Environments: Conceptual Foundations [J]. Journal of Marketing, July 1996.
[113] Schiller, Zachary, and Wendy Zellner. Making the Middleman An Endangered Species [J]. Business Week, June 6, 1997:114-115.
[114] Imparato, Nicholas, and Oren Harari. Squeezing the Middleman [J]. The Futurist, May-June 1995:14-15.
[115] Morgan, David. Net Innovations Could Mean More Downsizing [J]. Reuters, 1997.
[116] Baatz, E.B..Will the Web Eat your Job? [EB/OL]. http://www.cio.com/WebMaster/0596 eat.html.1996.
[117] Wigand, R. and Benjamin R.. Electronic Markets and Virtual Value Chains on the Information Superhighway [J]. Sloan Management Review, Winter, 1995: 52-72.
[118] Gellman, Robert. Disintermediaiton and the Internet [J]. Government Information Quarterly, 1996,13 (1):1-8.
[119] Kalakota, Ravi, and Andrew B. Whinston. Frontiers of Electronic Commerce [J]. Reading, MA: Addison-Wesley, 1996.
[120] Svetlana Matveevna Monastyrskaia. Intermediation, Quality Uncertainty, and Efficiency in Electronic Information Markets [D]. Ph.D. Thesis, The University of Texas at Austin, May 1998.
[121]Bollier, David. The Future of Electronic Commerce: A Report of the Fourth Annual Aspen Institute Roundtable on Information Technology [M]. Washington, DC: The Aspen Institute, 1996.
[122] Spar, Debora, and Jeffrey J. Bussgang. Ruling the Net [J]. Harvard Business Review, May-June, 1996: 125-133.
[123] Saffo, P.. DisinteREmediation: Longer, Not Shorter, Value Chains Are Coming [EB/OL]. http://www.saffo.org/disinteremediation.html.1998.
[124] 陈耀刚，姜彦福.中介存在性与发展趋势[J]. 数量经济技术经济研究, 2001, 3.
[125] James R.Garven. On the Implications of the Internet for Insurance Markets and Institutions [J]. Risk Management and Insurance Review. 2002, 5(2): 105-116.
[2] Beth Cox. Two Thumbs Up for E-Commerce [EB/OL]. http://cyberatlas.internet.com/markets/retailing/article/0,,6061_1604401,00.html, February 26, 2003.
[3] Lee W. McKnight and Joseph P. Bailey. An Introduction to Internet Economics [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[4] Economides, Nicholas. Competition and Integration among Complements, and Network Market Structure [J]. Journal of Industrial Economics, 1992, XL (1): 105-123.
[5] Economides, N. The Economics of Networks [J]. International Journal of Industrial Organization, 1996, 16(4).
[6] Joseph P. Bailey. Economics and Internet Interconnection Agreements [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[7] MacKie-Mason, J. K. and Varian, H. R.. Pricing the Internet [M]. In B. Kahin & J. Keller (Eds), Public Access to the Internet. Cambridge, MA: The MIT Press, 1995:269-341.
[8] Loretta Anania and Richard Jay Solomon. Flat: The Minimalist B-ISDN Rate [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[9] Mitrabarun Sarkar. An Assessment of Pricing Mechanisms for the Internet - A Regulatory Imperative [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[10] Martyne M. Hallgren and K. McAdams. A Model for Efficient Aggregation of Resources for Economic Public Goods on the Internet [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[11] Jiong Gong and Padmanabhan Srinagesh. The Economics of Layered Networks [A]. MIT Workshop on Internet Economics, 1995.
[12] David W. Crawford. Pricing Network Usage: A Market for Bandwidth or Market for Communication? [J]. The Journal of Electronic Publishing, 1996, 2 (1).
[13] 陈耀刚，姜彦福. 美国网络经济研究现状及趋势[J]. 经济学动态，2000, 12.
[14] Bailey, Joseph P. Intermediation and Electronic Markets: Aggregation and Pricing in Internet Commerce [D]. Ph.D. Thesis, Technology, Management and Policy, Massachusetts Institute of Technology, Cambridge, MA.,1998.
[15] Smith, Michael, Joseph Bailey, Erik Brynjolfsson. Understanding Digital Markets [M]. E. Brynjolfsson, B. Kahin, Eds. Understanding the Digital Economy, MIT Press, Cambridge,
[16] Clemons, Eric K., Hann, Il-Horn and Hitt, Lorin M. The Nature of Competition in Electronic Markets: An Empirical Investigation of Online Travel Agent Offerings [J]. Working Paper, The Wharton School of the University of Pennsylvania, June 1998.
[17] Bakos, J. Yannis. Reducing Buyer Search Costs: Implications for Electronic Marketplaces [J]. Management Science, December 1997, 43 (12).
[18] 邹奕萍. B2B网站存活尚不过半，电子商务谁主沉浮? [EB/OL]. http://www.21fw.com/web10.htm，2002年11月.
[19] 马小森. 网上购物走出低谷，交易增长164.14%达3.83亿[J]. 北京晨报，2002年12月29日.
[20] 何广怀. 去年深圳电子商务网上交易额突破30亿元[J].计算机世界报, 2003, 3(D1).
[21] Jack E. Triplett. Economic Statistics, the New Economy, and the Productivity Slowdown [J]. Business Economics, April 1999.
[22] Martin Fleming. The New Business Cycle: The Impact of the Application and Production of Information Technology on U.S. Macroeconomic Stabilization [J]. Business Economics, October 1997.
[23] William Leher and Frank R. Lichtenberg. Computer Use and Productivity Growth in US Federal Government Agencies, 1987-1992 [J]. The Journal of Industrial Economics, June 1998, XLV1(2).
[24] Wesley Szu-Way Shu. From Different Angles to Solve the Puzzle: Macro-Economic and Micro-Economic Analyses of Information Technology Productivity [D]. Ph.D. Thesis, The University of Arizona, 1998.
[25] U.S. Department of Commerce. Emerging Economy [M]. U.S. Department of Commerce, Washington, 1998.
[26] U.S. Department of Commerce, Emerging Economy II [M]. U.S. Department of Commerce, Washington, 1999.
[27] Robert B. Cohen. The Economic Impact of Information Technology [J]. Business Economics, October 1995.
[28] Erik Brynjolfsson. The Contribution of Information Technology to Consumer Welfare [J]. Information Systems Research, September 1996, 7(3).
[29] Lorin M. Hitt and Erik Brynjolfsson. Productivity, Business Profitability, and Consumer Surplus: Three Different Measures of Information Technology Value [J]. MIS Quarterly, June 1996.
[30] Malone, T.W., Yates, J., and Benjamin, R.I. Electronic Markets and Electronic Hierarchies
[31] Benjamin, R.I and Yates, J. The Past and Present as a Window on the Future [M]. M.S. Scott Morton (ed.), The Corporation of the 1990's. New York: Oxford University Press, 1991:61-72.
[32] Guillermo Israilevich. Review and Comments on Electronic Commerce Literature [EB/OL]. http://home.uchicago.edu/~guille/vita.html, 2000.
[33] Troy Jefferson Strader. The Impact of Electronic Commerce on Consumer and Organizational Costs [D]. Ph.D. Thesis, University of Illinois at Urbana-Champaign, 1997.
[34] David C. Croson, M.G. Jacobides, etc. Explaining Entry Decision and Crowdedness in Business to Business Electronic Commerce Markets [EB/OL]. http://www.wharton.upenn.edu/faculty/crosond.html, September 10, 2001
[35] Reibstein, David J.. What Attracts Customers to Online Stores, and What Keeps Them Coming Back [J]. Journal of the Academy of Marketing Science, 2002, 30 (4): 465-473.
[36] Soon-Yong choi, Dale O. Stahl, Andrew E. Whinston. The Economics of Electronic Commerce [M]. Macmillan Technical Publishing, Indianapolis, Indiana, 1997.
[37] Clemons, Eric K.，Hann, Il-Horn and Hitt, Lorin M. The Nature of Competition in Electronic Markets: An Empirical Investigation of Online Travel Agent Offerings [J]. Working Paper, The Wharton School of the University of Pennsylvania, June 1998.
[38] Bakos, J.Y.. A Strategic Analysis of Electronic Marketplaces [J]. MIS Quarterly, 1991,15(3): 295-312.
[39] Luis Garicano and Steven N. Kaplan. The Effects of Business-to-Business E-Commerce on Transaction Costs [EB/OL]. http://papers.nber.org/papers/w8017, November 2000.
[40] Bailey, J. P. Electronic Commerce: Prices and Consumer Issues for Three Products: Books, Compact Discs, and Software [J]. Organization for Economic Co-Operation and Development, OCDE/GD (98), 1998.
[41] Brynjolfsson, Erik, Smith, Michael. Frictionless Commerce? A Comparison of Internet and Conventional Retailers [J]. Working Paper, MIT, 1999.
[42] Anitesh Barua, Preyas S. Desai and Raj Srivastava. Economic Perspectives on Digital Marketing [EB/OL]. http://www.haas.berkeley.edu/Courses/Spring2000/BA269D/BaruaDesaiSrivastava99.pdf, 1999.
[43] Xiaorui Hu, Zhangxi Lin, Andrew B. Whinston, et al. Perceived Risk and Escrow Adoption: An Economic Analysis in Online Consumer-to-Consumer Auction Markets [A]. Proceedings of ICIS 2001, May 2001.
[44]
[45] Salop, S., Stiglitz J. E. The Theory of Sales: A Simple Model of Equilibrium Price Dispersion with Identical Agents [J]. The American Economic Review, December 1982, 72 (5): 1121-1130.
[46] Varian, Hal R.. A Model of Sales [J]. The American Economic Review, September 1980, 70 (4): 651-659.
[47] Stahl, Dale O.. Oligopolistic Pricing with Sequential Consumer Search [J]. The American Economic Review, 1989, 79 (4): 700-712.
[48] Stahl, Dale O.. Oligopolistic Pricing with Heterogeneous Consumer Search [J]. International Journal of Industrial Organization, 1996, 14(2): 243-268.
[49] Micheal R. Baye and John Morgan. Information Gatekeepers on the Internet and the Competitiveness of Homogeneous Product Markets [J]. American Economic Review, 2001, 91 (3): 454-474.
[50] Hal R. Varian. Market Structure in the Network Age [EB/OL]. http://www.sims.berkeley.edu/, 1999.
[51] Balasubramanian, Sridhar and Robert A. Peterson. An Analysis of Product and Service Markets in a Multiple-Channel Environment [J]. Working Paper, University of Texas at Austin, 1998.
[52] Hotelling, Harold. Stability in Competition [J]. Economic Journal, 1929, 39: 41-57.
[53] Salop, Steven, C.. Monopolistic Competition with Outside Goods [J]. Bell Journal of Economics, 1979, 10, 141-156.
[54] Varian, H. Microeconomic Analysis [M]. Norton, New York, 1984.
[55] Varun Grover and Pradipkumar Ramanlal. Six Myths of Information and Markets: Information Technology Networks, Electronic Commerce, and the Battle for Consumer Surplus [EB/OL]. http://theweb.badm.sc.edu/grover/grover.htm, 1999.
[56] Michael D. Smith, Joseph Bailey, Erik Brynjolfsson. Understanding Digital Markets: Review and Assessment [EB/OL]. http://ecommerce.mit.edu/papers/ude, 1999.
[57] Png, Ivan, Tom S.Y. Lee, Cui Yan. The Competitiveness of On-line vis-à-vis Conventional Retailing [J]. Working Paper, National University of Singapore, Singapore 2000.
[58] Lee, Ho Geun. Do Electronic Marketplaces Lower the Price of Goods [J]. Communications of the ACM, January 1997, 41(12).
[59] Luis Garicano and Steven N. Kaplan. The Effects of Business-to-Business E-Commerce
[60] Karen Clay, Ramayya Krishnan, and Michael Smith. The Great Experiment: Pricing on the Internet [M]. The Handbook of Electronic Commerce in Business and Society, Lowry, Cherrington, and Watson, eds. CRC Press. 2001:139-152.
[61] Xing Pan, Venkatesh Shankar and Brian T. Ratchford. Price Competition Between Pure Play vs. Bricks-and-Clicks e-Tailers: Analytical Model and Empirical Analysis. Working Paper [EB/OL]. http:// www.ebrc.psu.edu/publications/papers/pdf/2002_11.pdf, 2002.
[62] Clay, K., R. Krishnan, and E. Wolff. Prices and Price Dispersion on the Web: Evidence from the Online Book Industry [J]. Working Paper, #8271,National Bureau of Economic Research, May 2001.
[63] Tang, Fang-Fang, Xiaolin Xing. An Empirical Study on Pricing Differences between Dot coms and Hybrids in the Online Video Market [J]. Working paper, Nanyang Business School, Singapore, 2000.
[64] Porter, M. E. Competitive Advantage: Creating and Sustaining Superior Performance [M]. New York, Free Press, 1985.
[65] Chamberlin, E. The Theory of Monopolistic Competition [M]. Cambridge, Harvard University Press, 1933.
[66] Salop, S., Stiglitz, J. Bargains and Ripoffs: A Model of Monopolistically Competitive Price Dispersion[J]. Review of Economic Studies, 1976, 44: 493-510.
[67] McVey, Henry. Online Financial Services [EB/OL]. http://www.msdw.com/, August 2000.
[68] Reichheld, F. F. and P. Schefter. E-loyalty: Your Secret Weapon on the Web [J]. Harvard Business Review2000 Jul/Aug, 78(4): 105-113.
[69] Klemperer, P.. Markets with Consumer Switching Costs [J]. The Quarterly Journal of Economics, 1987, 102 (2): 375-394.
[70] Varian, Hal R. Price Discrimination [M]. In Handbook of Industrial Organization, edited by R. Schmalensee and R. Willig. Amsterdam: North Holland, 1989.
[71] Kollock, Peter. The Production of Trust in Online Markets [J]. Advances in Group Processes, Lawler, Macy, Thyne, Walker eds. JAI Press, Greenwich CT. 1999,16.
[72] Urban, Glen L., Sultan, Fareena and Qualls, William. Trust-based Marketing on the Internet [J]. Working Paper, #4035-98, MIT Sloan School of Management, 1998.
[73] Shankar, Venkatesh, Rangaswamy, Arvind and Pusateri, Michael. The Impact of Internet Marketing on Price Sensitivity and Price Competition [A]. Presented at Marketing Science and the Internet, INFORM College on Marketing Mini-Conference, Cambridge, MA. 6-8
[74] 杨滨. 最新研究报告表明北京人网上购物占全国2/3 [J]. 北京晚报，2002年12月31日.
[75] Jean Tirole 著. 张维迎 总译校. 产业组织理论[M]. 中国人民大学出版社，1997年8月. 362-363.
[76] Yuji Nakayama, Kiyohiko G. Nishimura. Does e-Commerce Always Increase Social Welfare in the Long Run? [EB/OL]. http://www.e.u-tokyo.ac.jp/cirje/research/ dp/2002/2002cf144.pdf, January 2002.
[77] 曹韫建，顾新一. 一类存在网络外部性的水平差异性模型[J]. 管理科学学报, 2002, 5(1): 59-63.
[78] Economides, Nicholas.The Principle of Minimum Differentiation Revisited [J]. European Economic Review, 1984, 24: 345-368.
[79] Economides, Nicholas. Quality Variations in the Circular Model of Variety Differentiated Products [J]. Regional Science and Urban Economics, 1993, 23: 235-257.
[80] Neven, Damien, and Jacques-Francois Thisse. On Quality and Variety Competition [M]. Economic Decision-Making: Games, Econometrics and Optimization, eds. J.J. Gabszewicz, J.-F. Richard and L.A. Wolsey, Amsterdam: North-Holland, 1990: 175-199.
[81] Vandenbosch, Mark B., and Charles B. Weinberg. Product and Price Competition in a Two-Dimensional Vertical Differentiation Model [J]. Marketing Science, 1995.
[82] Andreu Mas-Colell, Michael D.Whinston and Jerry R.Green. Microeconomic Theory [M]. Oxford University Press, New York, 1995:964-966.
[83] Chuan He. Competition In An Internet Mall: A Strategic Analysis of A New Marketing Venue[J]. Working Paper, Washington University in St.Louis, September 2001: 32-34.
[84] Goolsbee, Austan. Competition in the Computer Industry: Online Versus Retail [EB/OL]. http://gsbwww.uchicago.edu/fac/austan.goolsbee/research/ecompute.pdf, 2001.
[85] Brown, Jeffrey R., Austan Goolsbee. Does the Internet Make Markets More Competitive? Evidence from the Life Insurance Industry [J]. Working Paper, #7996, National Bureau of Economic Research, October 2000.
[86] 张维迎. 博弈论与信息经济学 [M].上海人民出版社，1996年8月.397-403.
[87] 平新乔. 微观经济学十八讲[M]. 北京大学出版社，2001年4月. 251-252.
[88] Akerlof, G.. The Market for Lemons: Quality Uncertainty and the Market Mechanism [J]. Quarterly Journal of Economics, 1970, 84: 488-500.
[89] Wilson,C. The Nature of Equilibrium in Markets with Adverse Selection [J]. Bell Journal of Economics, 1980, 11:108-130.
[90]
[91] Stiglitz, J., and A. Weiss. Credit Rationing in Markets with Imperfect Information [J]. American Economic Review, 1981, 71:393-410.
[92] Spence, A. M..Market Signaling [M]. Cambridge, Mass: Harvard Universtity Press, 1974.
[93] Cooper, R., and T. Ross. Prices, Product Qualities, and Asymmetric Information: The Competitive Case [J]. The Review of Economic Studies, 1984, 51: 197-207.
[94] 李健，郑如霞. 网络时代的客户关系管理[J]. 中央财经大学学报，2001, 6.
[95] 张洪吉，崔援民，崔凡. 电子商务对现代营销理论基本缺陷的纠正[J]. 中国软科学，2002, (4):58-61.
[96] Zerdick, A., A. Picot, K. Schrape, A. Artropé, K. Goldhammer, U.T. Lange, E.Vierkant, E. López-Escobar and R. Silverstone. Die Internet-?konomie: Strategien für die digitale Wirtschaft [J]. European Communication Council Report, Springer, 1999: 159-160.
[97] Hemant K. Bhargava and Shankar Sundaresan. Quality Uncertainty in IT-intensive Commerce: Optimal Design of Quality-Contingent Pricing [EB/OL]. http:// www.smeal.psu.edu/~bhargava/Pub/Papers/ EC/contingency-pricing-2002.pdf, July 2002:1-2.
[98] Oliver Fabel and Erik E. Lehmann. Adverse Selection and the Economic Limits of Market Substitution: An Application to E-Commerce and Traditional Trade in Used Cars [EB/OL]. http://papers.ssrn.com/sol3/results.cfm, 2000.
[99] Bin Gu and Lorin M. Hitt. Transaction Costs and Market Efficiency [J]. Twenty-Second International Conference on Information Systems, 2001: 85-96.
[100] Patrick Bajari and Ali Hortacsu. Cyberspace Auctions and Pricing Issues: A Review of Empirical Findings [EB/OL]. http:// ideas.repec.org/p/wop/stanec/02005.html, April 2002.
[101] Clemons, Hitt, and Snir. A Risk Analysis Framework for IT Outsourcing [EB/OL]. http:// tecom.cox.smu.edu/esnir/Outsourcing.pdf, Octobor 2000: 66-68.
[102] Mark Steckbeck and Peter Boettke. TURNING LEMONS INTO LEMONADE: Entrepreneurial Solutions to Adverse Selection Problems in E-Commerce [A]. Third Annual Conference of the Association of Historians of the Austrian Tradition in Economic Thought, Pisa–Lucca, 24-26 May 2001.
[103] Eli M. Snir. Designing Internet Spot Markets of IT Services [EB/OL]. http://tecom.cox.smu.edu/esnir/k_market.pdf, October 4, 2000
[104] Sakar, M., Butler, B. and Steinfield, C.. Intermediaries and Cybermediaries: A Continuing Role for Mediating Players in the Electronic Marketplace [EB/OL].
[105] Rubinstein, A. and Wolinsky, A.. Middlemen [J]. Quarterly Journal of Economics, 1987, 102: 581-593.
[106] Bose, G. and Pingle, M.. Stores [J]. Economic Theory, 1995, 6: 251-262.
[107] Bhattacharya, S. and Hagerty, K. Dealerships, Training Externalities, and General Equilibrium [M]. Contractual Arrangements for Intertemporal Trade. Minnesota Series in Macroeconomics, Minneapolis: University of Minnesota Press, 1989.
[108] Byungtae Lee and Byungjoon Yoo. Internalization of Electronic 'Auction market' and Information Asymmetry in Electronic Commerce [EB/OL]. http:// www.gsia.cmu.edu/andrew/sandras/ public/wise/pdf/blee01.pdf, September 1999,2-3.
[109] Williamson, S. and Wright, R. Barter and Monetary Exchange under Private Information [J]. The American Economic Review, March 1994: 101-123.
[110] Croson, David C. A New Role for Middlemen: Centralizing Reputation in Repeated Exchange [M]. Philadelphia, PA: Wharton School of Business, 1995.
[111] Lu, Jing. "Lemons" in Cyberspace: A Call for Middlemen [A]. Conference of Global Networking. June 1997 at Calgary, 1997.
[112] Hoffman, Donna L., and Thomas P. Novak. Marketing in Computer-Mediated Environments: Conceptual Foundations [J]. Journal of Marketing, July 1996.
[113] Schiller, Zachary, and Wendy Zellner. Making the Middleman An Endangered Species [J]. Business Week, June 6, 1997:114-115.
[114] Imparato, Nicholas, and Oren Harari. Squeezing the Middleman [J]. The Futurist, May-June 1995:14-15.
[115] Morgan, David. Net Innovations Could Mean More Downsizing [J]. Reuters, 1997.
[116] Baatz, E.B..Will the Web Eat your Job? [EB/OL]. http://www.cio.com/WebMaster/0596 eat.html.1996.
[117] Wigand, R. and Benjamin R.. Electronic Markets and Virtual Value Chains on the Information Superhighway [J]. Sloan Management Review, Winter, 1995: 52-72.
[118] Gellman, Robert. Disintermediaiton and the Internet [J]. Government Information Quarterly, 1996,13 (1):1-8.
[119] Kalakota, Ravi, and Andrew B. Whinston. Frontiers of Electronic Commerce [J]. Reading, MA: Addison-Wesley, 1996.
[120] Svetlana Matveevna Monastyrskaia. Intermediation, Quality Uncertainty, and Efficiency in Electronic Information Markets [D]. Ph.D. Thesis, The University of Texas at Austin, May 1998.
[121]
[122] Spar, Debora, and Jeffrey J. Bussgang. Ruling the Net [J]. Harvard Business Review, May-June, 1996: 125-133.
[123] Saffo, P.. DisinteREmediation: Longer, Not Shorter, Value Chains Are Coming [EB/OL]. http://www.saffo.org/disinteremediation.html.1998.
[124] 陈耀刚，姜彦福.中介存在性与发展趋势[J]. 数量经济技术经济研究, 2001, 3.
[125] James R.Garven. On the Implications of the Internet for Insurance Markets and Institutions [J]. Risk Management and Insurance Review. 2002, 5(2): 105-116.