Electronic markets have been a core topic of information systems (IS) research for last three decades. We focus on a more recent phenomenon: smart markets. This phenomenon is starting to draw considerable interdisciplinary attention from the researchers in computer science, operations research, and economics communities. The objective of this commentary is to identify and outline fruitful research areas where IS researchers can provide valuable contributions. The idea of smart markets revolves around using theoretically supported computational tools to both understand the characteristics of complex trading environments and multiechelon markets and help human decision makers make real-time decisions in these complex environments. We outline the research opportunities for complex trading environments primarily from the perspective of design of computational tools to analyze individual market organization and provide decision support in these complex environments. In addition, we present broad research opportunities that computational platforms can provide, including implications for policy and regulatory research.

Additional Metadata
Keywords Auctions, Decision support systems, Design, Experimentation, Platforms, Preferences, Smart markets, Software agents, Trading agent competition
Persistent URL hdl.handle.net/1765/26826
Series ERIM Top-Core Articles
Journal Information Systems Research
Bichler, M, Gupta, A, & Ketter, W. (2010). Designing smart markets. Information Systems Research, 21(4), 688–699. Retrieved from http://hdl.handle.net/1765/26826