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The purpose of this paper is twofold. The first is to estimate the correlation between market activity and volatility on an exchange that does not use continuous auctions to find prices. The second is to estimate the sensitivity of that relationship to differences in opinions across traders regarding asset value.

Both objectives are accomplished by using seven years of trader‐level data from the Tokyo Grain Exchange, which uses rapid sequences of Walrasian tâtonnement auctions to discover prices. On the TGE, only one futures contract trades at any given time and all of a commodity's futures contracts are auctioned in a rapid sequence, with only seconds between a sequence's auctions. The results are interpreted under the hypothesis that this design causes traders' beliefs to become more accurate and more uniform as a sequence progresses.

Intraday volume is u‐shaped while intraday volatility is downward sloping. The volume–volatility link is positive and stays constant or strengthens as traders' beliefs about value become more precise. The link is driven by trades originating from small futures commission merchants, especially those trades entered on behalf of customers.

Evidence that accounting for cross‐correlations when estimating volatility can have an important effect on estimates is presented. Researchers are encouraged to further explore the implications of cross‐correlations.

The paper includes implications for existing theory, the measurement of volatility, and the design of central exchanges.

This paper uses the TGE as a natural laboratory to test theory. It is the first such study to use data from an exchange that does not use continuous auctions, and the first to document the simultaneous existence of u‐shape volume and downward‐sloping volatility.

This chapter presents a summary of the literature on the influence of the Internet and other digital innovations on markets, consumers, and firms. The review leads to a list of topics in need of research in the general areas of big data, online and mobile advertising, consumer search, online privacy, online reviews, social networks, platforms for online transactions, and the impact of the Internet on retail markets, including multi-channel and omni-channel retailing. We discuss the big data approaches that have been applied to problems of targeting and positioning and suggest areas for further development of these approaches. We also discuss the emerging area of mobile advertising, which can further enhance targeting. On the consumer side, the evidence indicates that the Internet has greatly lowered the costs of search and access to retailers. Much of the consumer data are transmitted to sellers, and much of the online advertising is transmitted to consumers, through platforms, such as Google. We conclude that better models of competition among these platform firms are needed and that they need to be examined for anti-trust violations. While online retailing has grown rapidly, it still has a relatively small share of retail sales. Since sellers can combine the advantages of online and offline channels, it has been common for sellers to branch into multi-channel retailing. Given the increased availability of detailed consumer data, omni-channel selling, which emphasizes strategies for the various touchpoints that lead to a transaction, is an area for further development.

The aim of this study was to draw on the theory of planned behavior (TPB) and attempt to identify the factors influencing the customer decision to purchase via online auctions, focusing on how managers selling via online auctions can modify product positioning and promotion decisions in order to make their offerings more congruent with these factors.

The study employed a survey instrument to collect data from Yahoo!Kimo website consumers in Taiwan, obtaining 450 samples which were analyzed with structural equation modeling.

Attitude toward online auctions, perceived behavioral control and past related experiences significantly and positively influence the intention to purchase on online auctions, whereas subjective norm does not have such influence. Additionally, past related experiences have a positive effect on perceived behavioral control.

There has been a relative dearth of work on online auction customer behavior. By applying the TPB to online auction research, it was empirically supported that behavioral intention to purchase via online auctions is determined by attitude and perceived behavior control. Past related experiences were further integrated, discovering that they can strengthen perceived behavioral control.

Recommendations are put forward in order to help better align product positioning and promotion decisions in online auctions with customer attitudes, perceived behavioral control, and past related experiences. These constructs may also be capable of explaining employee actions in general managerial contexts, thus extending the contribution of the paper beyond the limited world of online auctions.

This study integrated online auctions, the theory of planned behavior and consumer decision‐making philosophies in order to develop and empirically test a theoretical framework of consumer decision making in online auctions.

The authors propose an Markov Chain Monte Carlo (MCMC) method for estimating a class of linear sum assignment problems (LSAP; the discrete case of the optimal transport problems). Prominent examples include multi-item auctions and mergers in industrial organizations. This contribution is to decompose the joint likelihood of the allocation and prices by exploiting the primal and dual linear programming formulation of the underlying LSAP. Our decomposition, coupled with the data augmentation technique, leads to an MCMC sampler without a repeated model-solving phase.

The purpose of this paper is to propose a concept of cloud auction robot (CAR) and its execution platform for transforming perishable food supply chain management. A new paradigm of goods-to-person auction execution model is proposed based on CARs. This paradigm can shift the management of traditional manual working to automated execution with great space and time saving. A scalable CAR-enabled execution system (CARES) is presented to manage logistics workflows, tasks and behavior of CAR-Agents in handling the real-time events and associated data.

An Internet of Things enabled auction environment is designed. The robot is used to pick up and deliver the auction products and commends are given to the robot in real-time. CARES architecture is proposed while integrating three core services from auction workflow management, auction task management, to auction execution control. A system prototype was developed to show its execution through physical emulations and experiments.

The CARES could well schedule the tasks for each robot to minimize their waiting time. The total execution time is reduced by 33 percent on average. Space utilization for each auction studio is improved by about 50 percent per day.

The CAR-enabled execution model and system is simulated and verified in a ubiquitous auction environment so as to upgrade the perishable food supply chain management into a new level which is automated and real-time. The proposed system is flexible to cope with different auction scenarios, such as different auction mechanisms and processes, with high reconfigurability and scalability.

The purpose of this paper is to propose a conceptual architecture for the development of an auction business‐to‐consumer marketplace where sellers offer available resources and services aiming to maximize their revenue while on‐the‐move travelers bid for them subject to the geographical area they are located in.

Based on previous findings from the literature and aggregate results from a preliminary field survey, core communication requirements, marketplace architecture, and communication workflows are presented.

Findings from the literature and field study exhibit a great potential for the successful use of location sensitive auction applications in tourism sector. Mobile auctions seem attractive for the efficient allocation and pricing of travel resources by abolishing the internet's barriers related to travelers computing requirements; furthermore, location‐based services (LBS) may reduce significantly the communication costs for sellers. The proposed marketplace is beneficial for a number of stakeholders beyond sellers, like auctioneer, mobile communications providers, and LBS providers.

The proposed architecture is in conceptual form and is currently under development. Infrastructure issues (like communication load, required bandwidth and protocol) are being investigated. Future research will focus on the integration of the architecture in an extended multi‐provider environment forming virtual enterprises. The viability and acceptance of the proposed model should be further investigated through an extended detailed market survey.

To the authors' best knowledge it is the first attempt to propose a location‐sensitive auction marketplace for tourism services.

The purpose of this paper is to extend the literature on how actors manage competing logics in an organizational field. The authors do so by introducing the concept of organizational irony to the literature on how to manage competing logics, and analyze a collaborative cultural project encompassing actors subjected to competing institutional logics.

The case study is built on qualitative data from in-depth interviews, newspaper articles and observations.

The authors describe and analyze a cultural project encompassing actors subjected to competing institutional logics and show how they responded to institutional pressures in their environment with the use of organizational irony. Thereby, the actors could collaborate with actors subjected to a competing institutional logic and still maintain adherence to their respective institutional logic.

Most studies of how to manage competing logics asserts that one logic will prevail over a competing one, either through “battles” or gradual dominance (Reay and Hinings, 2009). This study supports and adds to Reay and Hinings’ (2009) finding that actors also can collaborate and maintain adherence to their respective logic under such circumstances. In particular, it supports two identified mechanisms of how this can be achieved, namely, to separate decisions and to jointly innovate in experimental sites. It also adds to these mechanisms by showing that this can be done through the use of organizational irony. The authors only study one cultural project in one organizational field. It remains unclear if these findings are common in other cultural projects or in other organizational field, and the authors therefore encourage other researchers to extend or challenge the findings of this study.

The authors believe that the analysis and findings can be useful for politicians to take into account and address either to minimize the risk of organizational irony or on the contrary encourage it as a source of reflexive critique of society and cultural politics. The authors also believe that the response of organizational irony to institutional pressures broadens the acting space of cultural actors, provide media and critics with an analytical tool to analyze and deconstruct practices that otherwise would risk to be silenced or neglected. Finally, the authors believe that an analysis of organizational irony has the potential to make people attend to contradictions and multiple meanings in the artworks under study in a novel way.

The paper provides an intriguing and complex empirical case to demonstrate how actors manage competing logics in an organizational field through the production of organizational irony. The authors believe that its theoretical contributions and practical implications can inspire future research on how paradoxes can be managed through the use of organizational irony in other projects and organizational fields.

This paper examines the 2008 collapse of the US tax‐exempt auction rate securities (ARS) market, from the perspective of not‐for‐profit auction rate debt issuers.

The authors use a multiple case study methodology to examine the financial and operating impact of ARS auction failures on three US nonprofit hospitals and health systems. The analysis is based solely on information drawn from publicly‐available documents.

The three case study subjects issued more than $ 411 million in ARS. These securities were issued with bond insurance and fixed payer interest rate derivatives. The 2008 global financial crisis resulted in millions of dollars in drastically increased interest costs, costly debt refunding, and derivative‐related collateral postings. It was also found that the ability of an individual ARS issuer to respond effectively to these capital market‐related shocks is related to three key factors – profitability, liquidity and perceived credit quality.

The reliance on a case study methodology may limit the authors' ability to generalize the findings to the hundreds of other US non‐profit ARS issuers.

Nonprofit financial executives must learn to adequately assess their organization's risk exposures if innovative long‐term capital financing instruments are to be used in the future. These potential costs, as well as any ineffectively hedged interest cost exposure, must be considered and weighed against any potential interest cost saving associated with any future debt financing arrangements.

The paper measures the financial and operating impact of the highly publicized 2008 ARS market collapse on non‐profit ARS issuers.

While significant efforts have been made to study auction and logistics theories in the context of perishable supply chain trading (PSCT) over the last few years, the consensus has not yet been reached on how best to examine the impact of physical-internet-enabled auction logistics (AL) decisions and processes on dynamic perishable products transactions. The purpose of this paper is to address this gap by investigating the existing situations and identifying future opportunities for both academic and industrial communities.

The relevant literature was sort out along with three dimensions, namely auction mechanism, level of decision and coordination. The methods of field investigation and focus group discussion were also used to explore the factors influencing AL performance.

A number of key findings presented. First, there is an emerging paradigm shift from offline auction to online auction. Robust and resilient AL are needed to fulfill the massive number of orders from different channels while considering dynamic decisions. Second, three-level decisions in AL have been explicitly classified and defined. Various mathematical techniques used in literature vis-à-vis the contexts of AL were mapped. Third, a coordination mechanism that dynamically balances trade-off between logistics efficiency and transaction price was discussed. Lastly, several opportunities for future research were distinguished with coherent connection of research domains and open questions.

This paper not only summaries key themes of current research dimensions, but also indicates existing deficiencies and potential research directions. The findings can be used as the basis for future research in PSCT and related topics.