The focus of this research stream is to explore the development of what has been called the ihnew economylnrnand the emergence of new market structures brought about by electronic business. This paper investigates thernimpact of e-commerce on transaction cost analysis in the context of economic and organizational design theory.rnWe review elements from both disciplines to create models of the new e-conomy and propose methods tornempirically examine the extent to which these models mirror reality. In this paper, we establish foundationalrnresearch to address the following questions: How are markets and firms related in the new e-conomy? Whatrnforms of governance (markets, hierarchies, or intermediary structures) maximize transaction efficienciesrn(minimize transaction costs)? What impact does increasing levels of IT investment have on transaction costs?rnAs the new e-conomy approaches a state of perfect information (perfect competition), what is the impact onrntransactions and related costs? What theories are supported or challenged by these findings?
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