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Electronic market models for decision support systems on the Web

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3 Author(s)
Xie Yong ; Institute of Systems Engineering, Huazhong University of Science and Technology, Wuhan 430074, P. R. China ; Wang Hongwei ; Fei Qi

With the prevalence of the Web, most decision-makers are likely to use the Web to support their decision-making. Web-based technologies are leading a major stream of researching decision support systems (DSS). We propose a formal definition and a conceptual framework for Web-based open DSS (WODSS). The formal definition gives an overall view of WODSS, and the conceptual framework based on browser/broker/server computing mode employs the electronic market to mediate decision-makers and providers, and facilitate sharing and reusing of decision resources. We also develop an admitting model, a trading model and a competing model of electronic market in WODSS based on market theory in economics. These models reveal the key mechanisms that drive WODSS operate efficiently.

Published in:

Journal of Systems Engineering and Electronics  (Volume:15 ,  Issue: 2 )