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Infos to the Course  "Online Market Places" 

Lecturer: Franz Hackl

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General Information on the Course

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.

Target audience

Students of the Master's program in "Economic and Business Analytics". But also students from other fields, with an interest

  • in theoretical and empirical backgrounds and relationships of online marketplaces
  • in management decisions on online marketplaces
  • in the analysis of data
  • in information and communication technologies

 

Contents of the Course

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.

Study method

  • The course is held in form of distance learning. Hence, we will not meet in class. 
  • There are two preliminary exam dates in September. The dates are finally fixed in June.
  • A short paper has to be written.
  • The whole content of the course is accessible via the JKU's Moodle system.

Literature

  • 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 
  • , Lynne Pepall, Dan Richards & George Norman, Blackwell Publishing, 2008 (hier nur die Kapitel 5, 6, 17 und 18)

Pre-requisites

Given an admission to the master program "Economic and Business Analytics" there are no additional requirements. Given basic knowledge in microeconomics and statistics (it is helpful to have an idea of regression analysis), the course should be feasible for all interested students (all necessary basics are discussed in the course)!

Language

Course Language is English

Detailed Information on the Course

The whole content of the course is accessible via the JKU's Moodle system.