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on Payment Systems and Financial Technology |
| By: | Tugay ARAT (Selcuk University, Faculty Of Tourism) |
| Abstract: | As a result of the developments in information and communication Technologies, and their widely and densely use new marketing mediums have recently emerged. A number of platforms have also appeared in product preference in terms of consumers. The masses communicate with each other on social media. Firms are looking for the ways of affecting the preferences of customers, and they use social media as a marketing environment. Today, the competition between firms has raised, therefore most firms find traditional marketing methods inadequate in reaching to their customers. Therefore, they aim to take action in every environment in which customers exist. This situation causes producing firms to; conduct marketing activities in a more number of ways in digital or virtual media. In recent years, in tourism industry hotel services also use social media for purposes such as effective advertisement, reaching more customers and building brand loyalty. Through social media, tourism services can reach to more customer faster. Besides, customers can also quickly reach to tourism services through their social media accounts in the stages of information searching, assessment of alternatives, selecting choices and purchasing. The aim of this study is to explain how hotel services manage their Facebook accounts and which features they use, and to bring forward proposals. For this reason, Facebook accounts of these hotel services has been studied through content analysis method. |
| Keywords: | Tourism, Communication Technologies, Social Media |
| JEL: | M30 |
| Date: | 2016–03 |
| URL: | http://d.repec.org/n?u=RePEc:sek:iacpro:4707478&r=pay |
| By: | Ben Fung; Scott Hendry; Warren E. Weber |
| Abstract: | This paper studies the period in Canada when both private bank notes and government-issued notes (Dominion notes) were simultaneously in circulation. Because both of these notes shared many of the characteristics of today's digital currencies, the experience with these notes can be used to draw lessons about how digital currencies might perform. The paper begins with a brief historical review of how these notes came into existence and of the regulations regarding their issuance. It examines historical evidence on how desirable bank notes were as media of exchange by examining how well they functioned with respect to ease of transacting, counterfeiting, safety, scarcity, and par exchange (a uniform currency). It then examines whether the introduction of government-issued notes improved how bank notes functioned as media of exchange. It finds that they did not. Improvements in the functioning of bank notes were due to changes in government regulation. Using the Canadian experience and that of the United States, the paper concludes that privately issued digital currencies will not be perfectly safe without government intervention, government-issued digital currency will not drive out existing private digital currencies, and government intervention will be required for privately issued and government-issued digital currencies to be a uniform currency. |
| Keywords: | Bank notes, E-Money, Financial services |
| JEL: | E41 E42 E58 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:17-5&r=pay |
| By: | Karla Münzel; Wouter Boon; Koen Frenken; Taneli Vaskelainen |
| Abstract: | Carsharing provides an alternative to private car ownership by allowing car use temporarily on an on-demand basis. Operators provide carsharing services using different business models and ownership structures. We distinguish between cooperative, business-to-consumer (B2C) roundtrip and one-way, as well as peer-to-peer (P2P) carsharing. This paper characterizes these different types of business models and compares their success in terms of diffusion using a comprehensive database of all 101 German carsharing providers in 2016. The key results hold that fleet size is significantly different across business models ranging from a few cars (cooperatives in small towns), to a few hundred (B2C roundtrip in larger cities), to over a thousand (B2C one-way in largest cities), up to multiple thousands (P2P across the country). By analyzing for each operator the number of cars per capita in the city they operate in, we do not find significant differences across business models indicating the viability of each separate business model type. Hence, we conclude that business models will continue to co-exist for a while, although some of the business models may well converge in the longer run due to Internet-of-Things applications and the introduction of self-driving cars.Creation-Date: 2017-02 |
| Keywords: | Carsharing; sharing economy; platform economy; on-demand mobility services; business models; future mobility |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:uis:wpaper:1702&r=pay |
| By: | Wolfgang Kerber (University of Marburg); Heike Schweitzer (Freie Universität Berlin) |
| Abstract: | Interoperability has become a buzzword in European policy debates on the future of the digital economy. In its Digital Agenda, the EU Commission has identified a lack of interoperability as one of the significant obstacles for the thriving of the digital economy. The EU Commission and a number of other actors have advocated far-reaching policies for ensuring the interoperability of digital goods, services, platforms and communication networks. In this paper, we present a systematic framework for discussing interoperability problems from an economic and legal perspective and apply it to several interoperability issues, as, e.g., standardization, interoperability regulation in the field of electronic communication, duties of dominant firms (including platforms) to ensure horizontal and vertical interoperability and IP law exceptions in favour of interoperability. The complex trade-offs between benefits and costs of a higher degree of interoperability suggest the need for a careful and separate analysis of each specific interoperability issue, caution regarding a (top down) imposition of mandatory standards and interoperability obligations, and a greater focus on unilateral solutions of interoperability problems, like adapters or converters. EU competition law may be better advised to develop, within the framework of Art. 102 TFEU, a workable test to address hurdles for unilateral interoperability solutions created by dominant firms, than to continue focusing on the essential facilities doctrine to mandate interoperability. |
| Keywords: | interoperability, standards, digital economy, digital goods, platforms, communication networks |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201712&r=pay |
| By: | Haffke, Ingmar |
| Abstract: | Mastering digital business transformation is a strategic imperative for senior executives but often constitutes a challenging task for firms across industries. With the growing importance of information technology (IT) over the recent decades, the role of the Chief Information Officer (CIO), the head of the IT function, has become increasingly important. However, both research and practice acknowledge that establishing alignment between business and IT is difficult due to significant social factors that often arise. Research has shown that Chief Executive Officers (CEOs) and Chief Information Officers need to develop mutual understanding of their environments, views, and goals in order to promote a successful business-IT partnership. In the context of digital business transformation, which is driven by digital innovation occurring at the interface of business and IT, alignment is imperative. The creation of new executive roles, such as that of the Chief Digital Officer (CDO), indicate that social alignment between CEOs and CIOs remains an issue. This dissertation investigates the implications of digital business transformation for business-IT alignment, the evolution of digital leadership roles (especially the CIO and the CDO role), and the IT function in general. The results presented in this dissertation are grounded in the results from two extensive studies, a quantitative study based on responses from 102 matched pairs of CEOs and CIOs and a qualitative study based on interviews with matched pairs of business and IT executives from 19 companies. The study results were published in three academic articles, which are part of this dissertation. Additional articles that build upon the already published findings are currently under review and due to be published in 2017. The quantitative study examines perceptual congruence between CEOs and CIOs in a social alignment context, utilizing a combination of two hitherto largely separately applied models from social and personal relationship research. One of the major findings of this quantitative study is the recognition of bidirectional effects of active and passive understanding on the CEO-CIO relationship, whereas the concept of mutual understanding has thus far mostly been treated unitarily without differentiation between the two directions. The interview-based qualitative study examines the role of the CDO and the CIO and investigates the bimodal IT phenomenon that has gained increased visibility in practice with digital business transformation putting enormous pressure on the IT function and its leadership. This second study finds four different CDO role types to exist and highlights the implications for the development of the CIO role, which finds itself at an inflection point, returning somewhat to its traditional technical orientation, hence losing its strategic focus to CDOs and others. Furthermore, the second study explains the role of bimodal IT as a transitional stage in a larger transformation of the IT function in order to foster IT agility and IT exploration. Implemented as one of three archetypes that the study describes, bimodal IT introduces organizational structures, methods of working, and a culture that are critical for effective business support of digitization initiatives. Ultimately, however, the study finds that companies, which have successfully operated under a bimodal IT design, revert their IT function structure and processes to a unimodal design in the long term. Overall, this dissertation sheds light on crucial topics for companies’ executive leadership, the IT function, and business-IT alignment today. The studies conducted provide valuable insights for both practitioners and academics by drawing a conceptual distinction between the two directions and CEO-CIO understanding, explaining the CDO role and its influence on the development of the CIO role, and calling attention to the transformative role of bimodal IT. Practitioners are advised to promote CIOs’ understanding of current business topics, carefully delimit the CDO role (should such be needed) from the CIO role, and harness the learnings from bimodal IT on their digital transformation journey. The two studies add to the academic body of knowledge by answering calls for a more fine-grained conceptualization of CEO-CIO mutual understanding, providing initial insights into the emerging Chief Digital Officer role and its creation, and preparing a research framework for bimodal IT and explaining its relevance for IT transformation. The articles contained in this dissertation encourage IS scholars to utilize the findings described and further advance our knowledge in these domains. Moreover, this research can assist business and IT executives with improving alignment and avoiding the pitfalls that digital business transformation brings about for corporate leadership. |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:dar:wpaper:85359&r=pay |
| By: | Kim Huynh; Philipp Schmidt-Dengler; Gregor W. Smith; Angelika Welte |
| Abstract: | The discrete choice to adopt a financial innovation affects a household’s exposure to inflation and transactions costs. We model this adoption decision as being subject to an unobserved cost. Estimating the cost requires a dynamic structural model, to which we apply a conditional choice simulation estimator. A novel feature of our method is that preference parameters are estimated separately, from the Euler equations of a shopping-time model, to aid statistical efficiency. We apply this method to study ATM card adoption in the Bank of Italy’s Survey of Household Income and Wealth. There, the implicit adoption cost is too large to be consistent with standard models of rational choice, even when sorted by age, cohort, education or region. |
| Keywords: | Bank notes, Econometric and statistical methods, Financial services |
| JEL: | E41 D14 C35 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:bca:bocawp:17-8&r=pay |
| By: | David M. Byrne; Carol Corrado |
| Abstract: | This paper is a companion to our recent paper, "ICT Prices and ICT Services: What do they tell us about Productivity and Technology?" It provides the sources and methods used to construct national accounts-style price deflators for the major components of ICT investment--communications equipment, computer equipment, and software--that were presented and analyzed in that paper. The ICT equipment measures described herein were also used in Byrne, Fernald, and Reinsdorf (2016). |
| Keywords: | ICT asset prices ; Information and communication technology (ICT) ; Prices ; Price measurement |
| JEL: | E01 L63 E31 |
| Date: | 2017–01–15 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedgfe:2017-16&r=pay |
| By: | Koen Frenken |
| Abstract: | The sudden rise of the sharing economy has sparked an intense public debate about its definition, its effects and its future regulation. Here, I attempt to provide analytical guidance by defining the sharing economy as the practice that consumers grant each other temporary access to their under-utilized physical assets. Using this definition, the rise of the sharing economy can be understood as occurring at the intersection of three salient economic trends: peer-to-peer exchange, access over ownership and circular business models. I shortly discuss some of the environmental impacts of online sharing platforms and then articulate three possible futures of the sharing economy: a capitalist future cumulating into monopolistic super-platforms allowing for seamless services, a state-led future that shifts taxation from labour to capital and redistributes the gains of sharing from winners to losers, and a citizen-led future based on cooperatively owned platforms under democratic control. The nature and size of the social and environmental impacts are expected to differ greatly in each of the three scenarios. |
| Keywords: | sharing economy, circular economy, access economy, peer-to-peer markets, sustainable consumption, collaborative consumption |
| Date: | 2017–02 |
| URL: | http://d.repec.org/n?u=RePEc:uis:wpaper:1701&r=pay |
| By: | Jin Tao; Jin Chao |
| Date: | 2016–01 |
| URL: | http://d.repec.org/n?u=RePEc:qsh:wpaper:501296&r=pay |
| By: | Adena, Maja; Huck, Steffen |
| Abstract: | We study an online fundraising campaign run on an opera ticket booking platform. After establishing a baseline, a first change doubled the donation grid. A second change altered the navigation of the website rendering the act of declining to donate more salient. The contribution of our paper is fourfold. First, we add to the literature on defaults by showing how donation grids can have dramatic impacts on giving. Second, we demonstrate that small, apparently superficial changes in the design of a campaign can have unexpectedly large consequences (offsetting the effects of changes in the choice architecture). Third, we provide the first field evidence for the role of self-image in charitable giving. Finally, we provide stark evidence on possible adverse long-run effects of fundraising campaigns for ticket selling entities. “Avoiding the ask,” non-frequent customers buy fewer tickets in the following opera season. Ticket sales per person fall by €35, while average charitable income from the same group during the campaign had been just under €0.12. |
| JEL: | D64 D03 D12 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:vfsc16:145535&r=pay |