Dirk Neumann – författare

This open access book provides a broad range of insights on market engineering and information management. It covers topics like auctions, stock markets, electricity markets, the sharing economy, information and emotions in markets, smart decision-making in cities and other systems, and methodological approaches to conceptual modeling and taxonomy development. Overall, this book is a source of inspiration for everybody working on the vision of advancing the science of engineering markets and managing information for contributing to a bright, sustainable, digital world.Markets are powerful and extremely efficient mechanisms for coordinating individuals’ and organizations’ behavior in a complex, networked economy. Thus, designing, monitoring, and regulating markets is an essential task of today’s society. This task does not only derive from a purely economic point of view. Leveraging market forces can also help to tackle pressing social and environmental challenges. Moreover,markets process, generate, and reveal information. This information is a production factor and a valuable economic asset. In an increasingly digital world, it is more essential than ever to understand the life cycle of information from its creation and distribution to its use. Both markets and the flow of information should not arbitrarily emerge and develop based on individual, profit-driven actors. Instead, they should be engineered to serve best the whole society’s goals. This motivation drives the research fields of market engineering and information management.With this book, the editors and authors honor Professor Dr. Christof Weinhardt for his enormous and ongoing contribution to market engineering and information management research and practice. It was presented to him on the occasion of his sixtieth birthday in April 2021. Thank you very much, Christof, for so many years of cooperation, support, inspiration, and friendship.

This open access book provides a broad range of insights on market engineering and information management. It covers topics like auctions, stock markets, electricity markets, the sharing economy, information and emotions in markets, smart decision-making in cities and other systems, and methodological approaches to conceptual modeling and taxonomy development. Overall, this book is a source of inspiration for everybody working on the vision of advancing the science of engineering markets and managing information for contributing to a bright, sustainable, digital world.Markets are powerful and extremely efficient mechanisms for coordinating individuals’ and organizations’ behavior in a complex, networked economy. Thus, designing, monitoring, and regulating markets is an essential task of today’s society. This task does not only derive from a purely economic point of view. Leveraging market forces can also help to tackle pressing social and environmental challenges. Moreover,markets process, generate, and reveal information. This information is a production factor and a valuable economic asset. In an increasingly digital world, it is more essential than ever to understand the life cycle of information from its creation and distribution to its use. Both markets and the flow of information should not arbitrarily emerge and develop based on individual, profit-driven actors. Instead, they should be engineered to serve best the whole society’s goals. This motivation drives the research fields of market engineering and information management.With this book, the editors and authors honor Professor Dr. Christof Weinhardt for his enormous and ongoing contribution to market engineering and information management research and practice. It was presented to him on the occasion of his sixtieth birthday in April 2021. Thank you very much, Christof, for so many years of cooperation, support, inspiration, and friendship.

This book constitutes revised selected papers from the 8th International Workshop on Enterprise Applications, Markets and Services in the Finance Industry, FinanceCom 2016, held in Frankfurt, Germany, in December 2016. The 2016 workshop especially focused on “The Analytics Revolution in Finance” and brought together leading academics from a broad range of disciplines, including computer science, business studies, media technology and behavioral science, to discuss recent advances in their respective fields. The 9 papers presented in this volume were carefully reviewed and selected from 13 submissions.

The Grid computing concept, which allows users to integrate administratively and g- graphically dispersed computing resources, has been gaining traction in a number of application areas during the past few years. By interconnecting many – heterogeneous, though usually virtualized – computing resources, virtual computer centers or superc- puters can be created, providing a seamless supply of computing resources. Grid comp- ing provides benefits not only for scientific computing (e.g., SETI@home, which interconnects one million computers across 226 countries with a total processing power of 711 TFLOPS) but also in a commercial environment. It is projected that computing Grids can lower the total IT costs of businesses by 30%. The report “Grid Computing: A Vertical Market Perspective 2005–2010” (by The Insight Research Corporation) estimates an increase of worldwide Grid spending from $714.9 million in 2005 to approximately $19.2 billion in 2010. One of the most prominent activities in academia is the EGEE project being funded with 30 MEuro by the European Commission. EGEE brings together researchers from over 27 countries with the common aim of developing a service Grid infrastructure, which is suited for scientific computing with very high demand for processing power.

The Grid computing concept, which allows users to integrate administratively and g- graphically dispersed computing resources, has been gaining traction in a number of application areas during the past few years. By interconnecting many – heterogeneous, though usually virtualized – computing resources, virtual computer centers or superc- puters can be created, providing a seamless supply of computing resources. Grid comp- ing provides benefits not only for scientific computing (e.g., SETI@home, which interconnects one million computers across 226 countries with a total processing power of 711 TFLOPS) but also in a commercial environment. It is projected that computing Grids can lower the total IT costs of businesses by 30%. The report “Grid Computing: A Vertical Market Perspective 2005–2010” (by The Insight Research Corporation) estimates an increase of worldwide Grid spending from $714.9 million in 2005 to approximately $19.2 billion in 2010. One of the most prominent activities in academia is the EGEE project being funded with 30 MEuro by the European Commission. EGEE brings together researchers from over 27 countries with the common aim of developing a service Grid infrastructure, which is suited for scientific computing with very high demand for processing power.

Distributed computing paradigms for sharing resources such as Clouds, Grids, Peer-to-Peer systems, or voluntary computing are becoming increasingly popular. While there are some success stories such as PlanetLab, OneLab, BOINC, BitTorrent, and SETI@home, a widespread use of these technologies for business applications has not yet been achieved. In a business environment, mechanisms are needed to provide incentives to potential users for participating in such networks. These mechanisms may range from simple non-monetary access rights, monetary payments to specific policies for sharing. Although a few models for a framework have been discussed (in the general area of a "Grid Economy"), none of these models has yet been realised in practice. This book attempts to fill this gap by discussing the reasons for such limited take-up and exploring incentive mechanisms for resource sharing in distributed systems. The purpose of this book is to identify research challenges in successfully using and deploying resource sharing strategies in open-source and commercial distributed systems.