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Philip O'reilly - One of the best experts on this subject based on the ideXlab platform.
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'Orchestrating' sustainable crowdsourcing: A characterisation of solver Brokerages
Journal of Strategic Information Systems, 2012Co-Authors: Joseph Feller, Jeremy Hayes, Patrick Finnegan, Philip O'reillyAbstract:Exemplars of open innovation have revealed that intellectual property (IP) need not only be sourced through existing hierarchical or market relationships. Rather IP can be acquired from individuals and firms with whom an organization has no prior relationship. In such cases, an intermediary, operating as an innovation exchange or Brokerage, frequently facilitates the development and acquisition of IP. This paper examines one type of innovation intermediary, the 'Solver Brokerage,' which enables innovation exchanges between organizations and unknown external firms and individuals (i.e. a crowdsourcing process). While the commercial success of Solver Brokerages indicates the potency of arguments concerning the potential of crowdsourcing, little is known about the operation of such Brokerages or the crowdsourcing processes that they enable. This paper examines extant research on innovation networks, crowdsourcing, and electronic marketplaces to identify three processes (knowledge mobility, appropriability and stability) that we argue are necessary to 'orchestrate' crowdsourcing. Using a field study of four Solver Brokerages, an innovation seeking organization, as well as 15 innovation providers (i.e. members of the 'crowd'), the paper illustrates the ways in which the three orchestration processes are enhanced in Solver Brokerages. It reveals that while knowledge mobility and appropriability processes can be enhanced by activities under the control of the Solver Brokerage, stability is largely determined by innovation seeking organizations and the innovation providers. The paper concludes that broker-provided value-added 'orchestration' services need to enable knowledge mobility and appropriability, and to ensure that 'unsuccessful' innovation seekers and providers appropriate sufficient value to participate again.
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'Orchestrating' sustainable crowdsourcing: A characterisation of solver Brokerages
Journal of Strategic Information Systems, 2012Co-Authors: Joseph Feller, Jeremy Hayes, Patrick Finnegan, Philip O'reillyAbstract:Exemplars of open innovation have revealed that intellectual property (IP) need not only be sourced through existing hierarchical or market relationships. Rather IP can be acquired from individuals and firms with whom an organization has no prior relationship. In such cases, an intermediary, operating as an innovation exchange or Brokerage, frequently facilitates the development and acquisition of IP. This paper examines one type of innovation intermediary, the 'Solver Brokerage,' which enables innovation exchanges between organizations and unknown external firms and individuals (i.e. a crowdsourcing process). While the commercial success of Solver Brokerages indicates the potency of arguments concerning the potential of crowdsourcing, little is known about the operation of such Brokerages or the crowdsourcing processes that they enable. This paper examines extant research on innovation networks, crowdsourcing, and electronic marketplaces to identify three processes (knowledge mobility, appropriability and stability) that we argue are necessary to 'orchestrate' crowdsourcing. Using a field study of four Solver Brokerages, an innovation seeking organization, as well as 15 innovation providers (i.e. members of the 'crowd'), the paper illustrates the ways in which the three orchestration processes are enhanced in Solver Brokerages. It reveals that while knowledge mobility and appropriability processes can be enhanced by activities under the control of the Solver Brokerage, stability is largely determined by innovation seeking organizations and the innovation providers. The paper concludes that broker-provided value-added 'orchestration' services need to enable knowledge mobility and appropriability, and to ensure that 'unsuccessful' innovation seekers and providers appropriate sufficient value to participate again. © 2012 Elsevier B.V. All rights reserved.
Bruce W Weber - One of the best experts on this subject based on the ideXlab platform.
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THE IMPACT OF ELECTRONIC COMMERCE ON THE RETAIL Brokerage INDUSTRY
2020Co-Authors: Yannis Bakos, Henry C Lucas, Wonseok Oh, Gary Simon, Sivakumar Viswanathan, Bruce W WeberAbstract:Electronic commerce has enjoyed great success in the retail Brokerage industry. Attracted by commission savings, consumers' use of on-line Brokerage firms has grown. However, Brokerage customers may have difficulty comparing total trading costs, which consist of both the commission the broker charges and the cost of executing a trade. This paper reports on an experiment to examine whether order handling practices by traditional voice brokers and on-line Brokerage firms lead to differences in the quality of trade execution. We test two hypotheses; the first is that execution quality differs among brokers and is positively related to commission rates, and the second is that total trading costs are converging as might be expected in a stable market. In the experiment, we conducted 196 trades, simultaneously purchasing or selling 100 share lots of stock using a voice-based broker, a "brand-name" online broker and a deep discount online broker in each trial. We found 36 percent of our orders received price improvement, a measure of execution quality. The differences among brokers in obtaining price improvements were (weakly) statistically significant for NYSE-listed shares only. The brokers do exhibit statistically significant differences in total trading costs; at a volume of 100 shares commission costs dominate execution quality. We discuss implications for larger lot sizes and speculate on the ability of full-service Brokerage firms to maintain high commission charges. The paper concludes that electronic commerce is having a major impact on the Brokerage industry, and has the potential to affect pricing in other industries with bundled products and services.
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the impact of e commerce on competition in the retail Brokerage industry
Information Systems Research, 2005Co-Authors: Yannis Bakos, Henry C Lucas, Wonseok Oh, Gary Simon, Siva Viswanathan, Bruce W WeberAbstract:This paper analyzes the impact of e-commerce on markets where established firms face competition from Internet-based entrants with focused offerings. In particular, we study the retail Brokerage sector where the growth of online Brokerages and the availability of alternate sources of information and research services have challenged the dominance of traditional Brokerages. We develop a stylized game-theoretic model to analyze the impact of competition between an incumbent full-service Brokerage firm with a bundled offering of research services and trade execution and an online entrant offering just trade execution. We find that as consumers' willingness to pay for research declines, the incumbent finds it optimal to unbundle its offering when competing with the online entrant. We also find that the online entrant chooses a lower quality of trade execution when faced with direct competition from the incumbent's unbundled offering. The analytical model motivates a unique field experiment placing actual simultaneous trades with traditional full-service and online brokers, to compare order handling practices and the quality of trade execution. In keeping with our analytical results, our empirical findings show a significant difference in the quality of execution between online Brokerages and their full-service counterparts. We discuss the relevance of our findings for quality differentiation, price convergence, and profit decline in a variety of markets where traditional incumbents are faced with changes in the competitive landscape as a result of e-commerce.
Joseph Feller - One of the best experts on this subject based on the ideXlab platform.
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'Orchestrating' sustainable crowdsourcing: A characterisation of solver Brokerages
Journal of Strategic Information Systems, 2012Co-Authors: Joseph Feller, Jeremy Hayes, Patrick Finnegan, Philip O'reillyAbstract:Exemplars of open innovation have revealed that intellectual property (IP) need not only be sourced through existing hierarchical or market relationships. Rather IP can be acquired from individuals and firms with whom an organization has no prior relationship. In such cases, an intermediary, operating as an innovation exchange or Brokerage, frequently facilitates the development and acquisition of IP. This paper examines one type of innovation intermediary, the 'Solver Brokerage,' which enables innovation exchanges between organizations and unknown external firms and individuals (i.e. a crowdsourcing process). While the commercial success of Solver Brokerages indicates the potency of arguments concerning the potential of crowdsourcing, little is known about the operation of such Brokerages or the crowdsourcing processes that they enable. This paper examines extant research on innovation networks, crowdsourcing, and electronic marketplaces to identify three processes (knowledge mobility, appropriability and stability) that we argue are necessary to 'orchestrate' crowdsourcing. Using a field study of four Solver Brokerages, an innovation seeking organization, as well as 15 innovation providers (i.e. members of the 'crowd'), the paper illustrates the ways in which the three orchestration processes are enhanced in Solver Brokerages. It reveals that while knowledge mobility and appropriability processes can be enhanced by activities under the control of the Solver Brokerage, stability is largely determined by innovation seeking organizations and the innovation providers. The paper concludes that broker-provided value-added 'orchestration' services need to enable knowledge mobility and appropriability, and to ensure that 'unsuccessful' innovation seekers and providers appropriate sufficient value to participate again.
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'Orchestrating' sustainable crowdsourcing: A characterisation of solver Brokerages
Journal of Strategic Information Systems, 2012Co-Authors: Joseph Feller, Jeremy Hayes, Patrick Finnegan, Philip O'reillyAbstract:Exemplars of open innovation have revealed that intellectual property (IP) need not only be sourced through existing hierarchical or market relationships. Rather IP can be acquired from individuals and firms with whom an organization has no prior relationship. In such cases, an intermediary, operating as an innovation exchange or Brokerage, frequently facilitates the development and acquisition of IP. This paper examines one type of innovation intermediary, the 'Solver Brokerage,' which enables innovation exchanges between organizations and unknown external firms and individuals (i.e. a crowdsourcing process). While the commercial success of Solver Brokerages indicates the potency of arguments concerning the potential of crowdsourcing, little is known about the operation of such Brokerages or the crowdsourcing processes that they enable. This paper examines extant research on innovation networks, crowdsourcing, and electronic marketplaces to identify three processes (knowledge mobility, appropriability and stability) that we argue are necessary to 'orchestrate' crowdsourcing. Using a field study of four Solver Brokerages, an innovation seeking organization, as well as 15 innovation providers (i.e. members of the 'crowd'), the paper illustrates the ways in which the three orchestration processes are enhanced in Solver Brokerages. It reveals that while knowledge mobility and appropriability processes can be enhanced by activities under the control of the Solver Brokerage, stability is largely determined by innovation seeking organizations and the innovation providers. The paper concludes that broker-provided value-added 'orchestration' services need to enable knowledge mobility and appropriability, and to ensure that 'unsuccessful' innovation seekers and providers appropriate sufficient value to participate again. © 2012 Elsevier B.V. All rights reserved.
Stacy G Sirmans - One of the best experts on this subject based on the ideXlab platform.
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what do we know about real estate Brokerage
Journal of Real Estate Research, 2000Co-Authors: John D Benjamin, Stacy G SirmansAbstract:Many facets of real estate Brokerage have been examined in studies appearing in the literature over the last several years. This review attempts to organize the research around six questions concerning the Brokerage industry: (1) What is the nature of the market for Brokerage services and how does it influence the individual firm; (2) What factors determine broker and agent compensation; (3) How does Brokerage participation influence time on the market and price; (4) Is the Brokerage market efficient and equitable; (5) Must Brokerage firms assume greater liability; and (6) How do Brokerage markets vary internationally. In examining each question, the review points out the major focus of the research and summarizes important findings. Its purpose is to identify key issues facing the Brokerage industry and suggest avenues for future study.
Gianluca Carnabuci - One of the best experts on this subject based on the ideXlab platform.
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How Do Brokers Broker? Tertius Gaudens, Tertius Iungens, and the Temporality of Structural Holes
Organization Science, 2016Co-Authors: Eric Quintane, Gianluca CarnabuciAbstract:Organizational network research has demonstrated that multiple benefits accrue to people occupying Brokerage positions. However, the extant literature offers scant evidence of the process postulated to drive such benefits (information Brokerage) and therefore leaves unaddressed the question of how brokers broker. We address this gap by examining the information-Brokerage interactions in which actors engage. We argue that the information-Brokerage strategies of brokers differ in three critical ways from those of actors embedded in denser network positions. First, brokers more often broker information via short-term interactions with colleagues outside their network of long-term relationships, a process we label “unembedded Brokerage.” Second, when they engage in unembedded Brokerage, brokers are more likely than are actors in dense network positions to intermediate the flow of information between the brokered parties, consistent with a tertius gaudens strategy. Conversely, and third, when they broker infor...
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knowledge specialization knowledge Brokerage and the uneven growth of technology domains
Social Forces, 2009Co-Authors: Gianluca Carnabuci, Jeroen BruggemanAbstract:Why do certain domains of knowledge grow fast while others grow slowly or stagnate? Two distinct theoretical arguments hold that knowledge growth is enhanced by knowledge specialization and knowledge Brokerage. Based on the notion of recombinant knowledge growth, we show that specialization and Brokerage are opposing modes of knowledge generation, the difference between them lying in the extent to which homogeneous vs. heterogeneous input ideas get creatively recombined. Accordingly, we investigate how both modes of knowledge generation can enhance the growth of technology domains. To address this question, we develop an argument that reconciles both specialization and Brokerage into a dynamic explanation. Our contention is that specializing in an increasingly homogeneous set of input ideas is both more efficient and less risky than brokering knowledge. Nevertheless, specializing implies progressively exhausting available recombinant possibilities, while Brokerage creates new ones. Hence, technology domains tend to grow faster when they specialize, but the more specialized they become, the more they need knowledge Brokerage to grow. We cast out our argument into five hypotheses that predict how growth rates vary across technology domains.