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Philip O'reilly – 1st expert on this subject based on the ideXlab platform

  • ‘Orchestrating’ sustainable crowdsourcing: A characterisation of solver Brokerages
    Journal of Strategic Information Systems, 2012
    Co-Authors: Joseph Feller, Patrick Finnegan, Jeremy Hayes, Philip O'reilly

    Abstract:

    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.

  • ‘Orchestrating’ sustainable crowdsourcing: A characterisation of solver Brokerages
    Journal of Strategic Information Systems, 2012
    Co-Authors: Joseph Feller, Patrick Finnegan, Jeremy Hayes, Philip O'reilly

    Abstract:

    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 – 2nd expert on this subject based on the ideXlab platform

  • THE IMPACT OF ELECTRONIC COMMERCE ON THE RETAIL Brokerage INDUSTRY
    , 2020
    Co-Authors: Yannis Bakos, Henry C Lucas, Wonseok Oh, Gary Simon, Sivakumar Viswanathan, Bruce W Weber

    Abstract:

    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.

  • the impact of e commerce on competition in the retail Brokerage industry
    Information Systems Research, 2005
    Co-Authors: Yannis Bakos, Henry C Lucas, Wonseok Oh, Gary Simon, Siva Viswanathan, Bruce W Weber

    Abstract:

    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 – 3rd expert on this subject based on the ideXlab platform

  • ‘Orchestrating’ sustainable crowdsourcing: A characterisation of solver Brokerages
    Journal of Strategic Information Systems, 2012
    Co-Authors: Joseph Feller, Patrick Finnegan, Jeremy Hayes, Philip O'reilly

    Abstract:

    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.

  • ‘Orchestrating’ sustainable crowdsourcing: A characterisation of solver Brokerages
    Journal of Strategic Information Systems, 2012
    Co-Authors: Joseph Feller, Patrick Finnegan, Jeremy Hayes, Philip O'reilly

    Abstract:

    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.